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`State council' mooted to protect SMEs

Our Bureau

Hyderabad , Feb. 7

THE Federation of Andhra Pradesh Industries (FAPI) has appealed to the State Government to constitute a State-level Parishramika Mandali (Industrial Council) under the Chairmanship of the Chief Minister to promote small and medium enterprises (SMEs).

A delegation led by the President of FAPI, Mr B. V. Rama Rao, met the Chief Minister, Dr Y. S. Rajasekhara Reddy, on Monday and submitted a memorandum, comprising several suggestions to encourage SMEs.

Addressing a press conference, Mr Rama Rao said the proposed council may include chiefs of commercial banks, financial institutions, industry associations and top officials.

The council seeks to monitor the implementation of various policies and suggest measures to solve the problems faced by the industry.

Mr Rao alleged that bankers are not adhering to the guidelines of RBI on stepping up credit to SMEs.

"Some banks do sanction loans but refuse to release the sanctioned amount on time. This leads to industrial sickness," he said.

He appealed to the Chief Minister not to impose non-agricultural land assessment tax.

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