Relief package for sick SSIs

By Our Staff Reporter

BANGALORE, JUNE 28. In view of the industrial sickness of 30 per cent in the State, the Government has announced a relief package for revival and rehabilitation of sick SSIs and medium-scale industries which are not covered by the BIFR.

Speaking to presspersons here on Thursday, the Large and Medium Industries Minister, Mr. R.V.Deshpande, said that the Government conducted a survey of 7,000 SSI units, which revealed that the sickness was about 30 per cent. He did not have the details of fall in employment opportunities because of the sickness.

Some of the reliefs announced are:

1) To continue with the existing margin money scheme as spelt out in GO No.12 PUM 93 dated 26.12.96;

2) The KPTCL will not charge fixed charges/demand charges during closure period;

3) Arrears of energy bills to KPTCL to be repaid in six half- yearly installments and interest charges for defaults would be reduced to half per cent per month;

4) Tax arrears to the Commercial Tax Department to be repaid in six half-yearly installments with a nominal interest of half per cent per month;

5) Both the KPTCL and the Commercial Tax Department would not calculate interest for the closure period and

6) Future taxes payable by the industry to be deferred, without interest, for a period of three years.

For BIFR cases: Apart from the items 2, 3, 4, 5 and 6 above, the BIFR cases would continue to get all other benefits and incentives as per Order No.CI 26 BIFR 95 dated 19.11.97. Mr. B.S.Patil, Principal Secretary, Industry and Commerce Department, said that a study would be made on employment generation by adopting certain measures such as paying provident fund of employees, which was statutory for new industries in backward areas, and land price.

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Section  : Southern States
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