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FOIJ seeks release of 3rd installment of interest subvention

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JAMMU: Federation of Industries Jammu (FOIJ) has requested Lt Governor Manoj Sinha to release 3rd installment of 5 per cent Interest Subvention Relief to Industrial Units of Jammu & Kashmir before March 31, 2021.
Lalit Mahajan, Chairman FOIJ, while expressing gratitude towards Lt Governor Manoj Sinha, Arun Kumar Mehta Financial commissioner, Finance Department and R K Chhibber, Chairman J&K Bank for timely release of 1st and 2nd Installment of 5 per cent Interest Subversion previously, requested Lt Governor to release the 3rd installment as Supreme Court of India has refused to extend moratorium period of Emergency Credit Guarantee Loan.
We request Lt Governor and Financial Commissioner, Finance Department for their kind intervention for release of 3rd installment of 5 per cent Interest Subvention to Industrial Units well before March 31, 2021 enabling them to clear liabilities, he added.

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