Ad boomerangs on Punjab financial corporation | punjab | Hindustan Times
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Ad boomerangs on Punjab financial corporation

An advertisement by the state government under the heading “Diwali Bumper Dhamaka” has left the industry baffled and infuriated as the content includes a list of several industrial units across the state that will be auctioned, along with machinery on their premises.

punjab Updated: Oct 19, 2014 09:55 IST
Arjun Sharma

An advertisement by the state government under the heading “Diwali Bumper Dhamaka” has left the industry baffled and infuriated as the content includes a list of several industrial units across the state that will be auctioned, along with machinery on their premises.

Industrialists and even some senior leaders of the BJP, which is in alliance with the state government, have blasted off the advertisement published in many newspapers on Saturday, claiming it to be severely “insensitive” towards those who have lost their properties.

The industry has also decided to register their discomfort regarding the wording of the advertisement.

The BJP has also decided to take up the issue at the highest level and its leaders were planning to lodge a complaint with the party’s state president Kamal Sharma as well as deputy chief minister Sukhbir Singh Badal.

It is ironical that the state government is issuing statements for the betterment of the industry and on the other hand, it has published an advertisement that has apparently hurt the industrialists of the state.

The content of advertisement includes names of 48 industrial units manufacturing various goods in different districts of the state — Patiala, SAS Nagar, Fatehgarh Sahib, Sangrur, Bathinda, Ludhiana, Jalandhar and Amritsar.

The Punjab Financial Corporation under the ministry of industry and commerce gives loans to the micro, small and medium enterprises and in case these units are not able to return the loan, an auction of the properties through a proper procedure takes place.

President of the Federation of Associations of Small Industries of India (FASII) Badish Jindal said it was shocking that such an advertisement had been published by the corporation. “We are not against the auctioning of properties. It is a legal right of the financial corporation, but the heading “Diwali Bumper Dhamaka” used is putting salt to the wounds of the industrialists who have lost their property.”

“An apology to the industrial units whose names are present in the list should now be published in the same manner,” said Jindal.

On the other hand, national secretary of the BJP Kisan Morcha and former vice-chairman of the Punjab Small Industries and Export Corporation (PSIEC) Sukhminder Singh Grewal has also come in the support of industrialists and said he would take up the matter with Kamal Sharma and Sukhbir Singh Badal.

“What kind of feelings will the people whose properties will be auctioned have when they will read such an advertisement that claims the auction to be some kind of an offer?” Grewal questioned.

He said the matter should be taken seriously or the industry would lose faith in the state government.