Principal Secretary Mr. Pingua requested to reduce the economic burden on industries due to payment of workers in the lockdown period.
The Chief Secretary Industries has requested to reduce the economic burden of micro, small and medium industries of the state due to the nationwide lockdown due to Corona virus (Kovid-19) infection in the country. In the video conferencing held yesterday, he asked Central Development Commissioner Shri Rammohan Mishra to simplify the process of providing working capital to speed up industrial activities, various issues including taking 50 percent advance for iron and coal supply through NMDC, SECL Discussed in detail and made various suggestions.
Principal Secretary, Department of Commerce and Industry of the state, Mr. Manoj Kumar Pingua requested the Government of India to help in reducing the economic burden on the industries when payment of labor to the state’s industries during the lockdown period in video conferencing . He requested the Central Development Commissioner to make arrangements for immediate payment of pending orders of the industries supplied by the industries of the state to various public undertakings like Bhilai Steel Plant, NMDC, NTPC, Railways etc. and future work orders to be delivered Arrangements for payment of 30 percent amount in advance should be ensured. Similarly, requested to halve the interest rates being charged by banks on term loan and working capital loans taken by the industries of the state and postpone the recovery of monthly installments for at least 06 months.
In video conferencing, Mr. Pingua also requested that 50 percent of the amount of raw material required every month by changing the existing arrangement for payment of entire amount in advance for coal and iron ore received from SECL, NMDC to the state’s industries. But by providing raw material, the remaining amount should be obtained after 15 days of raw material supply. Mr. Pingua also suggested that the Central Government should start construction of basic infrastructure soon, so that the demand for products of core sector industries should increase. Besides, the Union Secretary also suggested to discuss with the Reserve Bank to simplify the process of providing necessary additional working capital due to the lockdown of the industries of the state. The Central Development Commissioner assured appropriate action after the suggestions of the State Government.