VIJAYAWADA: The State government’s decision to clear all the pending dues from government will help the industries to have the working capital to resume their operations after the lockdown, said Confederation of Indian Industry (CII)-Andhra Pradesh chairman D Ramakrishna.
In a press statement issued on Friday, he said the CII had requested the State government to waive the minimum power demand charges for the industry in view of the lockdown.
“The Chief Minister’s decision to waive the minimum power demand charges of MSMEs for April, May and June is a commendable decision at this critical time,” he said.
“The government decision to provide Rs 200 crore as input capital to firms at low-interest rates will help ease the working capital requirements of the industries, which are affected due to the lockdown.
"In fact, these measures are in line with the CII recommendations to the government to improve the working capital,” Ramakrishna added.
The CII also appreciated Minister for Industries M Goutham Reddy for announcing much-required measures for fostering the growth of MSMEs and other industry segments.
Sri City industrial community also hailed the Chief Minister’s decision to waive the minimum power demand charges for three months.
“The CEOs of the industrial units consider this a boon during the present crisis,” he said.
Thanking the government on behalf of all the industrial units in the industrial park, Ravindra Sannareddy, Founder Managing Director, Sri City, said they were very much thankful to Minister for Industries M Goutham Reddy for providing a lifeline to thousands of MSMEs in the State by deciding to release incentives due for several years.
“This decision will certainly help MSMEs situated in Sri City too, which are badly affected due to the nation-wide lockdown,” he said.