In an attempt to provide some relief to Small and Medium Enterprises (SMEs) in Gujarat, the former chief secretary of the state, P K Lahiri has sought cheaper bank credit for them in a seven-point plan for the banking sector. Lahiri outlined the measures in a lecture series titled ‘Economic Recession, Reality and Approach’, organised by the Gujarat Chamber of Commerce and Industry in the city on Friday.Lahiri, who is the former chairman and managing director of Sardar Sarovar Narmada Nigam Limited (SSNNL), said: “To combat global slowdown, there should be provision of cheap and timely credit to SMEs and increased loan facilities for exporters. The reason: the Export Oriented Units (EOU) are the most affected of the lot in the global slowdown, with each of them bearing the cancellation of orders from other countries.” He said further: “There should be target-oriented exports, building of warehouses for surplus products and measures to increase employment and competitiveness in the industry.” Besides this, the industries should take initiatives to stop expenditure on unnecessary transportation, Lahiri added.
