AIPMA urges government to waive of Rs 1,000 crore loan of plastic makers

By: |
New Delhi | Published: August 8, 2018 9:31:38 PM

AIPMA urged the government to waive off Rs 1,000 crore of loan of plastic manufacturers

plastics, aipmaOver 50,000 employees who lost their jobs due to plastic ban need to be offered a gratuity, which is estimated to be over Rs 1,000 crore, Bheda said (Reuters)

All India Plastics Manufacturers’ Association (AIPMA) today urged the government to waive off Rs 1,000 crore of loan of plastic manufacturers following the ban imposed in the state.

“Following sudden change in government policy, ban on single use plastic products such as disposables and carry bags across 20 states across India, thousands of entrepreneurs had to shut down their factories. These entrepreneurs are not able to service loans worth Rs 1,000 crore taken and run a risk of losing their mortgaged factories and house, apart from losing livelihood,” All India Plastics Manufacturers’ Association (AIPMA) president Hiten Bheda said in a statement here.

Over 50,000 employees who lost their jobs due to plastic ban need to be offered a gratuity, which is estimated to be over Rs 1,000 crore, Bheda said.

The association met with the joint secretary of department of chemical and petrochemicals, Aparna Sharma who has assured that the government and the plastic industry will
work together to address various issues such as plastic ban in various states, waste management rules (PWM), extended producers responsibility (EPR) and definition of single use
plastics.

Representatives of 54 Associations related to plastic processing industry from across India, actively participated in the discussions.

Sharma stated that government was open to suggestions regarding various issues faced by this sector.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Muzaffarpur shelter home case: Prime accused Brajesh Thakur cries propaganda, says was about to join Congress
2Maratha quota protest: Maratha Kranti Morcha calls ‘Maharashtra Bandh’ on August 9, schools, colleges to remain shut
3LIVE: 21 people injured in blast at Bharat Petroleum plant in Mumbai, 1 in critical condition