Release pending claims worth Rs 40 cr of J&K industry: BBIA

Excelsior Correspondent
JAMMU, May 28:  Bari  Brahmana Industries Association (BBIA) has urged upon the Government to release pending claims worth  Rs 40 crores of the industrial units on account of incentives of Central package.
In a  meeting of  executive committee of Bari Brahmana Industries Association (BBIA) held  today under the presidentship of  Lalit Mahajan, the members discussed the matter in respect of  non-release of  funds for the pending claims amounting to nearly Rs 40 crore of  central package of  incentives.
Members present in the meeting raised serious concern over the  non- release of funds for the sanctioned cases of CIS/ interest/ insurance subsidy cases for the period 2015-16 due to which the working of the industrial units are suffering badly as they are not in a position to repay the installments of  term loans resulting NPA of their bank account and their working capital limit stands exhausted. There is serious Financial Crunch being faced by the unit holders.
They pointed out that the amount  pertaining to the sanctioned claims of the units for the period October, 2015 onwards,  is duty of the JKDFC to project the requirement and arrange of funds from Department of Industrial Policy & Promotion (DIPP) Govt of India on regular basis of the sanctioned claims amount but it is matter of great concern that in spite of the repeated requests and reminders the JKDFC has failed to release the payment of pending claims resulting great resentment amongst the unit holders.
The BBIA urged upon the Finance Minister, Haseeb Drabu and  Industries & Commerce Minister, Chander Parkash to take up the matter with  Nirmala  Sitharaman, Union Minister of State for Commerce & Industry (Independent Charge) for the immediate release of  funds in favour of JKDFC to clear the pending claims amount of the industrial units of J&K.
The meeting was also attended by Rahul Bansal, senior vice president,  Varun Singla- vice president, Ajay Langer- general secretary, Viraaj Malhotra- treasurer and other Executive Committee members of  the Association.

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