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Thursday, Nov 04, 2004

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Plea to AP SSI units

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HYDERABAD: The Andhra Pradesh Incipient Sick SSI Federation has urged its members and entrepreneurs not to go in for the one-time settlement (OTS) announced by the Andhra Pradesh State Finance Corporation (APSFC), in view of the Major Industries Minister's announcement of a new policy for revival and rehabilitation of sick SSI units.

In a press release, the Federation President, Mr A.P.K. Reddy, said sick SSI units willing to restart should wait for the government policy and weigh their decision. The APSFC is holding its OTS Mela in Tirupati tomorrow for the closed and permanently sick units for sale and winding up.

The APSFC also informed that it was willing to revive the incipient sick SSI units as per RBI guidelines and that it was not entertaining any such units for the OTS.

More Stories on : SSI | Sick Units | Andhra Pradesh

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