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FOCIA Urges Union Finance Minister Nirmala Sitharaman to Visit MSME Units in Coimbatore

SimpliCity News Team · 08 Sept 2024

Coimbatore: The Coimbatore District Small Industries Association (FOCIA) held a crucial meeting on September 7 at the Wet Grinder Manufacturers Association office in Papanaickenpalayam, Coimbatore. The meeting, led by FOCIA coordinators James, Natarajan, and Ravindran, addressed several pressing issues facing the MSME sector in the region.

One of the primary concerns raised was the pressure from Coimbatore Corporation officials during field visits to pay professional and garbage taxes. Given the existing financial strain on small and micro industries, this additional burden has caused frustration among industrialists. The association called for the Coimbatore Corporation Commissioner to meet with representatives of small-scale entrepreneurs to streamline the tax collection process and alleviate the pressure from officials.

The meeting also highlighted the recent actions of the Tamil Nadu Electricity Board (TNEB) in the Coimbatore region. Over the past month, TNEB has been conducting surveys on electricity usage in small-scale factories and imposing fines equal to the usage charges. This unexpected move has shocked the industrial community, adding to their existing struggles with increased electricity tariffs and fixed charges.

FOCIA emphasized the need for the TNEB Chief Engineer to engage in discussions with Coimbatore industrial associations to find a solution that doesn't involve penalizing the already burdened industrial sector.

A significant point of discussion was the upcoming visit of Union Finance Minister Nirmala Sitharaman to Coimbatore on September 11. FOCIA strongly urged the Minister to visit MSME units during her trip. They stressed the importance of her meeting directly with job order entrepreneurs to understand and address the issues related to GST tax implementation.

The association also highlighted the challenges faced by entrepreneurs in obtaining bank loans. They criticized the banks' practice of invoking the SARFAESI Act to seize assets and shut down businesses if loan installments are missed for 90 days due to industrial crises. FOCIA demanded that this period be extended to 180 days, as it was previously.

The meeting saw participation from various industry leaders, including Sivashanmuga Kumar, President of Coimbatore Small and Tiny Foundry Owners Association (COSMAFAN), Surulivel, former President of CODISSIA, Sakul Hameed, executive of the Grill Manufacturers Association, and Mani, executive of the MMME Industrial Organization.

COSSIA MSME Nirmala Sitharaman Coimbatore taxation electricity bank loans industrial challenges

FOCIA Urges Union Finance Minister Nirmala Sitharaman to Visit MSME Units in Coimbatore

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