The Hindu Business Line : SSI units seek relaxation of norms on NPAs

THANE: Small Scale Industrial (SSI) units across the country have sought relaxation of norms for NPAs and extension of time limit for repayment of loans from the present 90 days, following the ongoing global recession. They have appealed to the Centre to take a decision on the NPA-related norms declared by the banks, before March 31.

A memorandum in this regard was today submitted to the Prime Minister by social worker and former BJP member Om Prakash Sharma, who has taken up the cause of SSIs. The copies of the memorandum, which were provided to the media today said that SSI contri butes about 40 per cent to the country's entire production and a major chunk is for the export sector.

Mr Sharma quoted the government data and said that there were about 12.8 million SSI units in the country as of 2003-04, and they produced goods worth $140 billion. Now after a gap of 5 years the number of SSI units would be of the order of 14 million an d its production would have gone upto $150 billion.

The SSI units are only demanding time extension for repayment of loans and interest and not a loan waiver, he added. - PTI

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