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Hyderabad , April 6

THE Federation of Andhra Pradesh Chambers of Commerce and Industry (Fapcci) has asked the Government to put in place efficient and pragmatic delivery mechanism in order to achieve growth targets.

Welcoming the industrial investment promotion policy of Andhra Pradesh for 2005-10 announced last week, Mr O.P. Goenka, President of Fapcci, said rehabilitation of sick units needed to be sharpened.

"Huge investments are blocked in the sick units. If the process of rehabilitation is not geared up, there is a possibility of existing assets of sick units becoming junk, resulting in colossal loss," he said.

"There is every need to utilise the idle assets particularly when investments are scarce," he said.

Referring to the provision to refund of Stamp Duty, he said instead of making the industry paying the duty for registration, the Industries Department might make the payment directly to the department concerned. This, he felt, would avoid blocking of funds.

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