Jammu, Mar 6 (KNN) Micro Small and Medium Enterprises (MSMEs) in Jammu and Kashmir have sought governor's intervention in release of pending payments to unit holders here.

Bari Brahmana Industries Association (BBIA) held a meeting on Friday to discuss the acute financial crisis being faced by the Local SSI Units due to non-release of payments of approximately Rs 20 crore which is pending since last one year by Social Welfare Department which is resulting into huge financial losses by these units.

''In spite of sufficient funds available with the department, the payment of SSI Units is not released for the reasons best known to the concerned officials of Mission Director. Units are suffering heavy losses due to accumulated bank interest which has been borrowed from the Banks as working capital. This leading to a financial crunch as the unit holders are not in a position to pay the wages/power bills/GST payments/bank Interest etc,'' BBIA said in a statement.

‘‘We are scared that the accounts of the unit holders might be converted into NPAs by the banks and if this happen then unit holders will have no other option rather than closing their units in near future,'' they added.

MSME body further said that repeated requests and reminders to the concerned officials of the Mission Director of ICDS and to the Commissioner/ Secretary, Social Welfare Department has been made for the release of payment but the department has taken casual approach on the same.

''We request Governor G C Murmu  to kindly intervene in to the matter and issue necessary orders  for the immediate release of pending payments of unit holders without any further delay and save them from the closer,'' they added.

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