FoIJ demands release of pending payments of SSI units

Excelsior Correspondent

JAMMU, Mar 22: Federation of Industries Jammu (FoIJ) raised serious concern in respect of non- release of pending payment of SSI Units since November 2018 for the supply of material to the J&K Power Development Department against the valid supply orders under the State/Centrally Sponsored Schemes.
Lalit Mahajan, chairman, FoIJ raised the issue regarding pending payments of around Rs 250 crore since last few months in spite of the timely supply of materials by the Industrial Units against the Soubhagya Yojna, Centrally Sponsored Scheme and other various State Govt Schemes.
” Due to delay in release of pending payments the working capital of the unit stands exhausted resulting serious financial crunch as the unit holders are not in a position to pay the wages/Power bills/GST payments/Bank interest and other Govt dues and we fear that the accounts of the unit holders may be converted into NPA by the banks resulting unit holders have no option but to close down their units in near future,” Mahajan said.
He pointed out that on one side Power Development Department failed to release the payments of the Industrial Units whereas on other, they are threatening the Unit holders to disconnect their Power supply due to non clearance of Power bills which shows the high headiness of the departments towards the Industrial sector of J&K working in our State in spite of all odds..
Federation of Industries, Jammu urged upon the Governor Satya Pal Malik and KK Sharma Advisor to intervene into the matter for the immediate release of pending payments of Unit holders during the current Financial year, maximum before March 31, 2019, which will provide great relief to them.