The MSMEs complain that the TS government is only keen on seeking fresh investments
The TS government, which had promised a one-time bailout to revive these sick industries, has constituted a "revival committee" with the industries minister as chairman to suggest measures. (Representational image)
Hyderabad: Reeling under heavy debts and taxes, the Micro, Small and Medium industries in Telangana are awaiting a bailout package from the state government for survival. As many as 10,000 such industrial units have shut down since 2009.
The TS government, which had promised a one-time bailout to revive these sick industries, has constituted a “revival committee” with the industries minister as chairman to suggest measures. However, the committee has not done anything since it was announced last month. The MSMEs complain that the TS government is only keen on seeking fresh investments and is not doing anything to revive sick units that employed thousands of people.
Industries minister Jupally Krishna Rao, while addressing the TS State Level Bankers’ Committee in February, had expressed concern over a number of MSMEs turning sick in TS and had promised that the government would formulate a scheme along the lines of the Credit Guarantee Fund Trust for MSEs to provide loans and financial assistance. Managements of MSMEs point out that the state is yet to keep its promise and banks deny loans.
( Source : deccan chronicle )
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