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Punjab industries dept assessing loss to micro industry during Covid lockdown
Industry has already estimated a loss of around Rs 2,600 crore in terms of payment of bank loans, loss of profit and salaries/wages and advances given to labourers
With the industry reeling under losses, the Punjab department of industries and commerce has initiated an exercise to gather feedback from the micro-industry on the loss of livelihood of small and self-employed micro enterprises due to the nationwide lockdown.
The exercise is being undertaken through district industries centres (DICs) and an online form has to be submitted by the industrial units or associations. The industry is being asked to submit various details, including the sector of industry and the loss suffered. Officials said the data was being collected for helping the government in framing policies.
According to industrialists here, there are around 80,000 micro units providing employment to around 8 lakh workers in the city. The industry has been claiming losses of around Rs 2,600 crore in terms of payment of bank loans, loss of profit and salaries/wages and advances given to labourers.
National president of the All Industries and Trade Forum Badish Jindal said, “The micro industry in the city has already suffered a loss of around Rs 2,600 crore. They have submitted details with the DIC.”
Jindal added, “The industry has paid around Rs 600 crore as bank interest, Rs 500 crore as salaries/wages and suffered losses up to Rs 400 crore. Further, Rs 1,100 crore is estimated as the loss of labour due to the lockdown. Therefore, there is the need that the state and the Union government announce an immediate relief package for the industry.”
Chamber of the Industrial and Commercial Undertakings (CICU) president Upkar Singh Ahuja said their team was working to compile the data pertaining to the losses and it will be submitted with the DIC on Thursday.
Deputy director, department of industries and commerce, Vishav Bandhu, said, “The government has decided to assess the loss and DICs across the state are compiling the data, which would be used by the government in framing policies. The data would be compiled in a day or two.”
