Laghu Udyog Bharati (LUB), a national organisation for the development of micro and small-scale industries, urged the Prime Minister Dr Manmohan Singh to enhance the credit flow to micro and small-scale industries and make payment of their bills within 45 days as per the MSME Act 2006. In a meeting held to discuss the adverse effects of global economic meltdown on micro and small scale industries, with Prime Minister on December 8, LUB president Shri Suresh Gupta also said the units registered with the NSIC under single registration scheme be provided benefits like issue of tender set free of cost, exemption from payment of EMD and security deposit and price preference of up to 15 per cent. Shri Gupta told Organiser that the directives issued by the UPA government were flouted with impunity more as a rule rather than exception. He urged the Prime Minister to implement these directives strictly and especially directions should be issued to all PSUs and government departments to make payments to micro and small units within 45 days. He said to ease liquidity to micro and small industries there should be an immediate increase of 50 per cent cash credit limit across the board for all micro and SSIs and the interest payment for three years including this year may be converted to soft loans with a limit of Rs 15 lakhs. Since the textile, jewelry and auto parts sectors are the worst affected in global financial meltdown, the LUB demanded to provide a special package to these sectors.
(FOC)
