`Non-revision of rentals of cold storage leading to default`

Last Updated: Sunday, March 10, 2013 - 13:39

Kolkata: There are reports of closure of 14 potato cold storages in West Bengal after defaults in loan repayments due to non-revision of rentals in the last three years, an industry official said here Sunday.

"We have information of closure of 14 potato cold storages due to loan repayment default," West Bengal Cold Storage Association President Rampada Paul said here.

"I have repeatedly said due to non-revision of rentals in the last three years, cold storage owners are facing severe cost pressure and if the government does not take corrective measures closure of small cold storages will be imminent.

"Moreover, more than the closure of 14 cold storages, banks have turned reluctant to extend loan for crop to cold storages, this is has impacted the industry more," Paul said.

There are around 100 small cold storages out of total 425 across the state, he said.

Paul, however, was optimistic that state government would look into their grievances seriously after the panchayat elections.

PTI



First Published: Sunday, March 10, 2013 - 13:38

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