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PDD failes to release payments of SSI Sector of J&K: FIJ 8/13/2018 11:05:31 PM Early Times Report Jammu, Aug 13: Federation of Industries Jammu (FIJ) raised serious concern in respect of non release of pending payment of SSI Units from last six months for the supply of material to the Chief Engineer, Procurement & Material Management, Power Development Department Jammu and Kashmir against the valid supply orders. Members present in the meeting raised serious concern in respect of pending payments of Crores of rupees since last six months. Due to delay in release of pending payments the working capital of the units stands exhausted resulting serious financial crunch & accumulation of liability of Crores of Rupees. We fear that the unit holders have no option but to close down their units in near future resulting in retrenchment of hundreds of worker if their outstanding payment is not released immediately. It is pertinent to mentioned here that as per the Delayed Payment Act 2006 of Govt. of India, it is mandatory for all the Govt. Departments to release the payment of SSI Sector within 45 days from the date of receipt of material otherwise the Department is bound to pay the Interest on the Delayed Payment but the concerned officials are not adhering to the guidelines of the Act for the reason best known to them. Mahajan also pointed out that in spite of requisite funds allocated to all the departments by the Govt. for the clearance of material purchased by the various Govt. Departments from the MSME Sector, the officials of Power Development Department did not released the payments of Unit Holders resulting great inconvenience to the Unit Holders. Federation of Industries, Jammu appealed Governor of J&K N.N. Vohra to kindly intervene in to the matter and give directions to concerned department for immediate release of pending payments of Unit Holders which will provide great relief to them.   Share This News with Your Friends on Social Network     Comment on this Story

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