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Revival of sick units: Minister promises help to entrepreneurs

By Our Special Correspondent

VIJAYAWADA, AUG. 25. The Minister for Commerce and Major Industries, Botsa Satyanarayana, has assured the Jawahar Autonagar Mutually-Aided Cooperative Consumer Stores Limited that the State Government will help entrepreneurs reopen small-scale industries which have gone sick.

Addressing members of the society after laying the foundation stone for the housing complex, being promoted by it, here on Wednesday, Mr. Satyanarayana said the Government would provide all facilities like loans at lower rates of interest and subsidy in electricity charges for those who wanted to take over sick units. Of the 243 sick units in Vijayawada, promoters of only seven units came forward to avail themselves of the facilities provided by the Government. They would get facilities like waiver of loans or a moratorium, depending on the capital investment and also the existing debts.

Internal roads

Mr. Satynarayana appealed to entrepreneurs to come forward to take over sick units through outright purchase to avail of other facilities. He said the Government would make the wish list of entrepreneurs its agenda to serve them. While the farming sector was its priority, the Government was not ignoring the industrial sector, he asserted.

Responding to the request of the society president, Vemuri Rajendra Prasad that the Government should lay internal roads for the second phase of Jawahar Autonagar, the Minister urged the Chairman of VGTM-UDA, Malladi Vishnu, to take up the road works.

The society urged the Government to hand over the building of Jawahar Autonagar Mutually-Aided Cooperative Consumer Stores to the society, for it was utilising just two shops in the whole complex and part of it was leased out to a post office.

Responding to this, the Minister for Cooperation, Kanna Lakshminarayana, said the Government would do all that it could to help entrepreneurs in the society.

Efforts lauded

The Minister for Higher Education, Pinnamaneni Venkteswara Rao, lauded the efforts of the society in securing the land and also taking up the mega project of constructing a multi-storeyed residential complex. The project was sponsored by the Union Bank of India.

The Kankipadu MLA, Devineni Rajasekhar (Nehru), the Vijayawada city MLAs -- Sk. Nazar Vali and Vangaveeti Radhakrishna -- the VGTM-UDA Chairman, Malladi Vishnu, the Assistant General Manager of Union Bank of India, A. Sudhakar, were also present.

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