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Industrial sector suffering due to Centre’s restriction on withdrawal of cash: FOIJ

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STATE TIMES NEWS
JAMMU: Chairman, Federation of Industries, Jammu, Lalit Mahajan chaired meeting to discuss the difficulties being faced by the industrial sector due to restriction imposed by Government of India on withdrawal of cash up to Rs. 20,000 per week. Lalit said, “We appreciate the step taken by Prime Minister which will help in the total ban on the fake currency.”
“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. 20,000 per week, the working of the Industrial sector will suffer.” Mahajan said adding that the industrial units require lots of liquid money for day to day payments and transactions which includes the payment of Freight and other production related expense.
He requested Prime Minister to exempt the industrial sector from the restriction imposed for the withdrawl of cash maximum up to Rs. 20000 per week.
The meeting was attended by Rajesh Jain, Vijay Aggarwal, Ajit Bawa, Romesh Badyal, Jainder Aul, Rajinder Gupta (Co-Chairmen FOIJ), S.B Abrol Secretary General and Ajay Langer Convener FOIJ.

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