The Hindu Business Line : KASSIA seeks reduction in interest rates

Bangalore, April 26 The Karnataka Small Scale Industries Association (KASSIA) has demanded reduction of interest rate charged by the banks from 12-15 per cent to 7 per cent.

KASSIA also wanted the Karnataka Government to allocate land for the small-scale sector to develop new industrial estates as the existing clusters have reached saturation points.

Plea for panel

In a press statement, KASSIA suggested that an empowered committee with representatives from the institutions and industries associations should be created to oversee the implementation of various policies announced by the government.

Development Institutions such as KIADB, KSSIDC, KSFC, LIDKAR, DIC need restructuring and overhauling with updated technology.

KASSIA said the meltdown in the global financial markets had not affected their industries and the SME sector could grow by15 per cent if their demands were met.

Other demands

Other demands include better connectivity, construction of 5,000 SSIs annually in rural areas and board level representations to certain institutions.

“We will meet all political parties and industrialists separately with our demands. One party has already given serious consideration to them” said a senior KASSIA official.

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