Binani Suspends Production – Results in 60 Crore Loss to Treasury

Binani Suspends Production – Results in 60 Crore Loss to Treasury

The halting of production at the Binani Cement plants has resulted in a loss of revenue to the Government Treasury, which was receiving a sum of approximately Rs. 60 Crore per month in the form of various Taxes from the Cement giant.

 
Binani Suspends Production – Results in 60 Crore Loss to Treasury

The halting of production at the Binani Cement plants has resulted in a loss of revenue to the Government Treasury, which was receiving a sum of approximately Rs. 60 Crore per month in the form of various Taxes from the Cement giant.

The complete halt of production due to distrainment of the plant of Binani Cement, has resulted in an equivalent loss to the company as well.

An officer from the Company Affairs department of the company, R.S. Joshi, said in his talk with the press, that the company was paying a sum of Rs. 650 Crore every year in the form of various taxes to the Central and State Government.  Of this, a sum of Rs. 154.51 Crore is due to the State Government and the company has requested to pay this sum in 36 equal monthly installments, on which the Government is yet to take any action.  The Government Treasury had to suffer a loss of Revenue of Rs. 46 Crore in the month of February.

It needs to be noted here that the Pindwara plant in Sirohi district and Neem Ka Thana plant in Sikar district caters to over 15,000 families livelihood, which is now facing a dire deadlock.

The loss of Revenue aside; this halt in production has affected the daily lives of more than 3000 people in the tribal belt, whose livelihood depends on the company.  Since the factories are not producing, the labor have lost their daily wages, their only source of income, and are facing starvation.  The workers are demanding that the Government permit the company to pay its due amount in 36 months, so that production restarts and their daily needs be met.  A memorandum to this effect has been given to the local administration as well along with making a request to the local MLA, Samaram Garasiya to take action.  Garasiya has given them assurance and said that he has written to the Chief Minister Vasundhara Raje to process this request at the earliest.

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