Task force to deal with small cos’ issues

NEW DELHI: The government will soon set up a task force to address funding and labour concerns of the micro, small and medium enterprises (MSMEs) sector. MSMEs have been demanding availability of adequate financing and change in labour laws for operational efficiency.

Prime Minister Manmohan Singh has assured the industry that the task force would submit a report within three months, the industry officials said, after a meeting with the PM on Wednesday. The industry representatives from small and medium scale companies have apprised the PM of the difficulties faced by the sector due to the global economic slowdown.

���The prime minister said a task force will be formed to help the MSME sector,��� Federation of Indian Micro, Small and Medium Enterprises (FISME) chairman Suresh Mohan said. The MSME sector has also demanded setting up of an SME Stock Exchange to help raise finances easily to encourage product innovation and better risk management.