The Association of Indian Forging Industry (AIFI) has demanded the state and Union government should immediately take drastic steps to rescue the industry otherwise several units would close down. Which may render nearly 60000 persons jobless in the state.

Addressing a press conference here, Ranbir Singh, Northern Region, Chairman of AIFI, on Friday said that Punjab government should strongly take up their case with the center as the state was having around 35% share in the export of engineering products. The industry leaders demanded that as major chunk of Rs. 20000 crores package given by the Union government had gone to the textiles industry, the engineering industry should also be extended similar relief.

“Interest rate should be reduced to boost local and export industry and repayment of loans should be rescheduled,” they demanded while also seeking major reduction in steel price up to 30%.   

Published in Times of India dt. 13.12.2008