Excelsior Correspondent
JAMMU, Nov 10: An urgent meeting of the members of the Federation of Industries, Jammu was held today under the chairmanship of Lalit Mahajan, Chairman, to discuss the difficulties being faced by the industrial sector of the State due to restriction imposed by Government of India on withdrawal of cash up to Rs. 20000/- per week.
Lalit Mahajan said, “We appreciate the step taken by our Prime Minister which will help in the total ban on the fake currency in the circulation in our currency, to eradicate corruption and money laundering which will help to boost the economy of our Country.”
“In respect of implications of such restrictions, the Industry feels that due to restriction imposed for the maximum withdrawal of Rs 10000 per day, subject to Rs 20000 per week, the working of the Industrial Sector will suffer.” Mahajan, added that the Industrial Units require lots of liquid money for day to day payments and transactions which include the payment of freight and other production related expense and it is unjustified on the part of Government to restrict the cash withdrawal maximum to Rs 20000 per week for Industrial Sector”
We request Prime Minister of India Narendra Modi and Finance Minister Arun Jaitley to kindly exempt the Industrial Sector from the restriction imposed for the withdrawl of cash maximum up to Rs 20000 per week.
The meeting was also attended by Rajesh Jain, Vijay Aggarwal, Ajit Bawa, Romesh Badyal, Jainder Aul, Rajinder Gupta (Co-Chairmen FoIJ), S B Abrol, Secretary General, Ajay Langer Convener FoIJ & other office bearers of all the constituents of Federation of Industries, Jammu.
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