Reports have come in that a delegation of United Cycle and Parts Manufacturers Association (UCPMA) had met the industry minister of Punjab, Sunder Sham Arora to discuss their problems. Inderjit Singh Navyug, the president of UCPMA, led the delegation and various issues affecting the bicycle industry such as the delayed refund of the VAT, the problems faced from Punjab State Power Corporation Limited and e-Way Bills.
Pardeep Wadhawan, the vice-president of UCPMA, has said,
“The main focus of the meeting was to discuss major issues related with PSPCL and E-way bills. We have demanded that the limit for e-way bill should be raised to a minimum Rs 2 lakh per transaction and the peak load charges levied by PSPCL should also be taken back at earliest.”
According to Achhru Ram Gupta, the finance secretary of UCPMA,
“We took up the issue of delay in processing VAT refunds by state taxation department which is still sitting over our money even after levying of GST last year. With VAT refunds worth lakhs stuck with the department, we have no more capital to invest in business. If no action is taken by government, we will be forced to shut down our businesses.”
How did the government respond?
Minister Arora assured the traders that their VAT refund amount of Rs 200 crores will be released by the end of June 2018 by the government.
Suresh Kumar, Principal Secretary to the Chief Minister of Punjab, assured the traders that they would be getting electricity at Rs 4.95 per unit (small industrialists). He, however, expressed his inability to end the fix charges which the industrialists are currently paying.
Another meeting has been scheduled for today where the issue of power tariff will be taken up.
The Principal Secretary told the delegation that the government would help the MSME industry in every possible way.