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Iron industry in Punjab under threat of closure

Mandi Govindgarh (Punjab): The biggest iron market in Punjab faces a major threat of shut down. About 150 iron industry units have closed down in Mandi Gobindgarh, thanks to the new policies of the state and federal governments. The businessmen in Gobindgarh town are afraid that more factories would close down if the government does not change policy. "If the same trend in the market continues, it seems like another 50 to 100 industry units also will be shut down. There are serious reasons for it, first there were government policies to protect the industry, but with the liberalisation, the government stopped the equalisation of rates. Mandi Gobindgarh was the worse hit," Vinod Vashisht, President of All India Steel Re-rollers Association, said.

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