Firms working at 30% capacity in Jalandhar

[Priyanka]

Even as the state government has been holding business summits and offshore industrial meets to encourage investment in the state, at least 10 per cent of the local manufacturers have had to shut down operation in the past two years due to market slowdown and no government help. President of the Jalandhar Focal Point Extension Association Narinder Singh Sagoo said, “There has been a long spell of market slowdown. The businessmen, who took some loans to tide over the situation, got further burdened. They were under an illusion of getting some relief from the financial institutions and the government. But this did not come. Such companies got mired in big liabilities.”

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