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Punjab MSMEs in cycle parts fare better; ones in auto parts & machine tools flounder

Updated: Sep 16, 2020 09:40:54am
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Punjab MSMEs in cycle parts fare better; ones in auto parts & machine tools flounder

Chandigarh, Sept 16 (KNN) Micro, Small and Medium Enterprises (MSMEs) involved in cycle parts manufacturing are doing well in Punjab as compared to other sectors such auto part, machine tools and other sectors, said Badish Jindal, president, President of Federation of Punjab Small Industries Association (FOPSIA) on Wednesday.

While reacting over the Punjab Industries Minister Sunder Sham Arora's claim that over 90 per cent MSMEs have resumed their operations, Jindal while speaking to KNN India said, ''See, MSMEs are bound to get back to work and resume operations. Whether one start to operate or not, the cost will keep on increasing on daily basis but there is only 40-50 per cent work.''

''Except MSMEs who are involved in production of cycle parts, all the other MSMEs of different sectors are in a bad situation. Auto parts, Machine tools, garments and others are not performing,'' he added.

However, FOPSIA president also asserted the demand for cycle rose due import export ban in June but it's a temporary phase and the performance won't continue for long.

''If we see sector wise then at present garments 40 per cent, hand tools 60 per cent, Auto parts 70-80 per cent while by cycle performance is 100 per cent.'' claimed Jindal.

While talking about the labour problem, he said, ''currently there is no such issues, most of the them have returned from their states.''   

“Owing to several key initiatives taken by the Congress led Punjab Government, as many as 2,34,072 units have resumed their operations,” said the state Industries Minister Sunder Sham Arora on Tuesday, while assuring all aggressive assistance from the State to manage and alleviate COVID-19 induced stress.

The Minister also said that power subsidy of Rs 2920 crore has also been provided to industrial units, besides Rs 525 crores have been spent on improvement of industrial infrastructure.

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