Industrialists’ body submits memo to minister, lists issueshttps://indianexpress.com/article/cities/ludhiana/industrialists-body-submits-memo-to-minister-lists-issues/

Industrialists’ body submits memo to minister, lists issues

The FICO members pressed for the creation of an exhibition centre in Ludhiana.

The Federation of Industrial and Commercial Organisation (FICO) submitted a memorandum to Union Minister of Micro, Small and Medium Enterprises (MSME) Giriraj Singh on Saturday evening.

FICO president Gurmeet Singh Kular said, “We have asked the minister to get exempted the processing fee for granting MSME loan. At the moment Rs 15,000 is being charged for granting loan in the range of Rs 10 lakh – Rs 1 crore. This is totally uncalled for.”

He added that one MSME bank should be in Ludhiana, and looking at the industrial growth, the rate of interest should be reduced from the existing 14% to 10%.

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The FICO members pressed for the creation of an exhibition centre in Ludhiana — a long-pending demand of industrialists. They asked for upgradation of Dhandari railway station and requested the minister that trains from UP and Bihar must stop and start from Dhandari so as to reduce traffic on the main railway station.

The industrialists also urged the minister to take up the issue of air connectivity with the ministry concerned. Kular said, “A minimum of two flights should take off from Sahnewal airport daily.”