Excelsior Correspondent
JAMMU, Mar 25: Federation of Industries Jammu, requested the Lt Governor Manoj Sinha for the release of 3rd Installment of 5 % Interest Subvention relief to the Industrial units of Jammu & Kashmir before March 31, 2021.
Lalit Mahajan, chairman FOIJ, while extending gratitude to the Lt Governor, Manoj Sinha, Arun Kumar Mehta Financial Commissioner, Finance Department and R K Chhibber, Chairman, J&K Bank for the timely release of 1st and 2nd installment of 5% Interest Subversion previously, drew the attention of Lt Governor for the release of third installment.
He said the Supreme Court of India has refused to extend the moratorium period of Emergency Credit Guarantee Loan, resulting the Unit holders are bound to deposit the unpaid interest before March 31, 2021 resulting acute Financial crunch reported by the Unit holders.
FOIJ requested the Lt Governor Manoj Sinha and Arun Kumar Mehta- Financial Commissioner, Finance Department for their kind intervention for the release of 3rd Installment of 5% Interest Subvention to Industrial units before March 31, enabling them to clear the liabilities of the banks.
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