Picture Credits: Indian Express
The CIA has made a meeting with the Punjab Chief Minister, appealing to the governments and farmer groups, to prepare the government for the problems being faced by the industry and businessmen in the state. Farmers have suffered the most from the movement.
Ludhiana, News. In view of the economic and rail blockade due to the agitation of the farmers' organizations, the economy and industry of Punjab has expressed deep concern. The CII has appealed to the central and state governments and farmer organizations to find an amicable solution to end the crisis. Appealing to the governments and farmer groups, CII will hold a meeting with the Chief Minister of Punjab to make the government aware of the problems being faced by the industry and businessmen in the state.
Picture Credits: BBC.COM
Everyone has the right to peaceful protest in a democracy
Rahul Ahuja, chairman of CII Punjab State Council and managing director of Rajneesh International, said, 'Everyone has the right to represent their cause for peaceful protest and agitation in a democracy. We understand that farmers may have some objections regarding the recently passed agricultural regulations. However, this movement is not only causing economic losses to big businesses but also to local industries, labor in factories, logistic providers, small grocery stores, which are unable to get supplies.
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Business losses due to blockade
Ahuja said that the longer this blockade continues, the greater the loss will bring the overall image of Punjab as an investment and commercial destination, which the present as well as earlier state governments had tried hard to build. The industry was already reeling under the stress of Kovid and the lockdown imposed earlier this year. The current crisis has put the industry in a more vulnerable position.
Also adverse effects on working capital and liquidity
Bhavdeep Sardana, Vice Chairman, CII Punjab State and Senior VP and CEO, Sukhjit Starch and Chemicals, said the industry is plagued by agitation and blockade. Whether it supplies raw materials and semi-finished goods to our factories or exports carrying basmati, yarn and textiles, hand tools, sports and leather goods and various inland container depots, container freight stations and other items stuck in transit There is also speculation on forced shipments and now closure of power plants.
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Sardana further said that the current crisis has also adversely affected the working capital and liquidity in the market as exporters usually receive their payment from customers only when they send them a bill of lading copy, which once loaded the container into the vessel Only possible after doing.
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