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28 May 2023, Edition - 2875, Sunday

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Demonetisation: Industries to represent to PM

Covai Post Network


With crisis deepening due to demonetisation, particularly to pay salaries to the workers, industries association in the region today decided to meet Union Minister Kalraj Mishra to prevail upon the Central Government to make available liquid cash to the industries.

The decision to this effect was taken at a meeting of representatives of 51 industries associations held here to discuss the impact of withdrawal of high value notes on the industries.

Though the industries welcomed the Government’s efforts in tackling fake currency and corruption, there were many issues faced by the trade and industry, causing hardship, the associations said.

With shortage of the cash, especially in a city like Coimbatore with industrial commercial importance, the government should immediately rush sufficient supply of cash so that it was made available in the city in all banks and ATMs to tide over the crisis, M V Loganathan, president of Coimbatore, SIDCO Industrial Estate Manufacturers Welfare Association, said.

Other major demands include sufficient supply of small denomination notes and enhancing the limit of withdrawal of salary to the workers, based on the past transaction, as they have to be paid by seventh and 10th of every month, he said.

After meeting Mishra, the delegation will seek audience with Prime Minister, Narendra Modi or Finance Minister, Arun Jaitley to represent the case, Loganathan said.

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