You are here: Home » PTI Stories » National » News
Business Standard

AIPMA urges govt to waive of Rs 1,000cr loan of plastic makers

Press Trust of India  |  Mumbai 

All 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 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 Plastics Manufacturers' Association (AIPMA) 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 and petrochemicals, 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.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, August 08 2018. 20:35 IST
RECOMMENDED FOR YOU