*BBIA donates 100 PPE kits
JAMMU, May 19: Director Industries & Commerce (I&C) Anoo Malhotra today chaired a meeting with various Industrial Associations of Jammu during which she discussed Trade Receivables Discounting System (TReDS) with the trade leaders also listened to their issues.
Anoo Malhotra informed that entrepreneurs about the TReDS which is being implemented in the Union Territory of J&K for maintaining the liquidity of MSMEs. TReDS is an electronic platform for facilitating the financing/discounting of trade receivables of Micro, Small and Medium Enterprises (MSMEs) through multiple financiers.
She informed that sellers, buyers and financiers are the participants on a TReDS platform. “Only MSMEs can participate as sellers in TReDS. Corporates, CPSUs and any other entity can participate as buyers in TReDS. Banks, NBFC – Factors and other financial institutions as permitted by the Reserve Bank of India (RBI), can participate as financiers in TReDS,” she added.
The presidents of different associations showed a keen interest in this new scheme and were further of the opinion that the TReDS platform is definitely going to help to maintain the liquidity in the hands of the entrepreneurs by providing immediate cash in the hands of sellers.
Vijay Agarwal, president of Association of Industries, Samba while raising the issue of closure of Industrial Units in case the driver of trucks bringing raw material was found COVID positive, demanded that production should not stop, instead only the section and person should be isolated when he tests COVID positive whereas Ajit Bawa, president, Kathua Industrial Association apprised the Director I&C that raw material of Cement Industry is not readily available and lifting of extracted minerals and mining may also be allowed.
Bansi Lal Gupta, senior vice president, Association of Industries Gangyal, requested that two-wheelers must be allowed for factory works and requirement of passes shall be done away with while Suraj Bansal of Saraswati Group of Industries requested for enhancement of permitted labour from 30% to 50% within the Industrial Estates.
Meanwhile, Bari Brahmana Industrial Association (BBIA) donated 100 PPE kits to Director I&C for further distribution to the Corona warriors like doctors, paramedics and the persons involved with the migrant movements. The kits were provided by T S Bedi, Plant Head, M/s Jai Beverages, Bari Brahmana, Jammu.
Lalit Mahajan, president and chairman Federation of Industries Jammu, Tarun Singla, senior vice president BBIA, Ajay Langer, vice president BBIA, Rajesh Jain, secretary BBIA, Vivek Singhal, treasurer BBIA and L S Puri, secretary general, Federation of Industries Jammu were present on the occasion.