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MSMEs urge govt to put in place a single window system for sanctioning loans under PTUAS
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Laxmi Yadav, Mumbai
August 24 , 2022
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Pharma Micro, Small and Medium Enterprises (MSMEs) have appealed to the government to put in place a single window system for sanctioning loans up to maximum Rs. 10 crore to them under Pharmaceutical Technology Upgradation Assistance Scheme (PTUAS) for upgrading their facilities.
Besides this, they are also looking for cash flow under PTUAS of Rs. 10 crore through all nationalized banks in a short timeframe with five installments of Rs. 2 crore each based on progress report of the drug unit.
Launched by the government on July 21, 2022, PTUAS is among three sub-schemes of 'Strengthening Pharmaceuticals Industry' (SPI) to strengthen pharma MSMEs. It aims to facilitate MSME of proven track record to upgrade their technology to meet WHO-GMP or Schedule M standards. The scheme has provisions for a capital subsidy of 10 per cent on loans up to a maximum limit of Rs. 10 crore with a minimum repayment period of three years or interest subvention of up to 5 per cent (6 per cent in case of units owned by SC/ST) on reducing balance basis. Minimum repayment period of the loan sanctioned for availing of the benefit under the scheme is 3 years.
The other two sub-schemes are Assistance to Pharmaceutical Industry for Common Facilities (APICF) in clusters and Pharmaceutical & Medical Devices Promotion and Development Scheme (PMPDS). SIDBI is the project management consultant for implementing the scheme.
Said SR Vaidya, chairman, MSME Committee, Indian Drug Manufacturers’ association (IDMA), “MSMEs in the pharma industry contribute more than 70 per cent of medicine supply to Central and state government requirements. MSMEs provide employment to about 12 crore people through 5 crore enterprises. Thus, forming the largest generator of employment in the Indian economy. Also, MSMEs are the major portion of the industrial activity and produce 8,000 different products. SPI scheme is an excellent initiative of the government and an excellent opportunity for pharma MSMEs specially our IDMA members”.
“We have received a number of suggestions from the pharma industry related to the PTUAS such as cash flow under PTUAS of Rs. 10 crore from any nationalized bank. Sanction should be with one window clearance. Loan has to be sanctioned in a short time frame. It may be distributed in 5 installments of Rs. 2 crore each based on the progressive reports available from the entrepreneur,” he said while addressing an awareness programme for the SPI scheme held by the IDMA in Mumbai recently.
“We are sure that with the necessary support from the government and SIDBI and also the other banks to our IDMA members and the Indian pharma industry, we can proudly say that most of the new drugs which will hit the world and make a difference to the world will be coming from India and that will make a huge difference to our Indian pharma industry,” he opined.
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