Vellore district Small and Tiny Industries Association (VEDSTIA) has appealed to the Chief minister J Jayalalithaa to bail out about 2,000 small industries functioning in the district, by ensuring 12 hour uninterrupted power supply.
The association said that they faced the risk of extinction in absence of continuous power supply.
In a memorandum submitted to the Chief Minister, president of the VEDSTIA, R Amirthakatesan, haspointed out that with the prevalent 18 hours of power cut a day, the units were incurring heavy losses with the increased cost of production coupled with financial issues like labour wages, electricity, loan repayment and interest payment to name a few.
The future looked gloomy for the 20,000-odd work force employed in these various units, in case the units shut down due to inability to function owing to operational causes due to power crisis.
The Industries association further appealed to the CM to take a sympathetic view of the situation and intervene by waiving off the penal and compound interests payable to the banks and State financing corporations like the TIIC.
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