BBIA demands release of pending amount to Industrial unit of state

Newspoint Bureau
Jammu Tawi, April 21
Bari Brahmana Industries Association (BBIA) on Friday expressed concern over blockage of huge amount of Industrial Units in respect of sanctioned claims of Capital investment Subsidy, Interest Subsidy & Insurance Subsidy pending since 2015 onward.
Addressing the meeting, the members of the association said, ” Due to non-release of funds the unit holders are facing serious problems as they are not able to clear the installments of Term Loans, Blockage of Working Capital Limit & piling up of huge amount of Interest accumulated resulting nos. of accounts already converted into NPA’s and the Unit Holders have no option but to close down their units resulting retrenchment of the work force in near future which will increase the graph of unemployment in our State.
They urged Chief Minister Mehbooba Mufti, Finance Minister Dr. Haseeb A. Drabu and Industries Minister Chander Parkash to kindly intervene into the matter for early release of funds against sanctioned claims for the disbursement to the Industrial Units and to provide instant relief to the Industrial Sector by providing Soft Loan against sanctioned Incentives claims of Industrial Units till the release of funds by the Central Govt. to save them from clouser.

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