Raising concern over slow distribution of loans by public sector banks and delay in releasing payment to PPE manufacturers by HLL Lifecare Ltd- a government of India owned corporation, a delegation from Chamber of Industrial and Commercial Undertakings (CICU) met Union minister of state for commerce and industry, Som Parkash, on Wednesday.
Members of the delegations said micro, small and medium enterprises (MSME) are finding it difficult to manage their finances as there is no inflow. They demanded that public sector banks speed up the process of distributing loans for providing relief to the industries during this time of crisis.
President, CICU, Upkar Singh Ahuja said general secretary Pankaj Sharma said,”HLL Lifecare Ltd should immediately release pending payments to PPE manufacturers as the industry is facing shortage of funds. Further, we have demanded that PPE quality standards be issued by the government. Also fresh instructions should be issued for inspection of inventories in warehouses as the sample might fail there due to humidity or other reasons.”
Ahuja said that HLL Lifecare Ltd is not releasing payments to PPE kit manufacturers, even when it was stated that payment would be released in five days. The minister has assured that he will take up the matter with the Union government.