September 28, 2021

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

Take steps to keep afloat Ford Motor in Tamil Nadu: O Panneerselvam urges CM M K Stalin

Expressing concern over the future of thousands of workers and allied industries, AIADMK coordinator O Panneerselvam on Tuesday sought Tamil Nadu Chief Minister M K Stalin‘s immediate intervention in the issue concerning the American auto major Ford Motor‘s decision to shut its operations and ensure the company’s facility at Maraimalai Nagar is kept afloat.

Such a move, the former Chief Minister contended, would augur well for the industrial growth in the State and also safeguard jobs of the workers.

“The news regarding the closure of the plants in India is shocking. It has come amid a move to bring new jobs to Tamil Nadu based on the fact that workers can survive if industries grow,” Panneerselvam said.

He appealed to the Chief Minister to provide relief to the employees by sustaining the industrial climate in the State.

On Thursday, Ford Motor announced that it will shut its two manufacturing plants (Maraimalai Nagar and Sanand in Gujarat) in India and sell only imported vehicles in the country, as part of a restructuring exercise.

In a statement here, Panneerselvam said Ford announced closure of its plant in Maraimalai Nagar in the second quarter of next year due to huge accumulating losses and lack of growth in a difficult market.

“The move will affect the future of about 4,000 direct employees and also that of about 40,000 indirect workers. The future of micro, small and medium enterprises (MSME) dependent on Ford Motor is also very bleak,” the AIADMK coordinator said.

Maintaining that the State government has a responsibility to protect the workers and industrial climate in Tamil Nadu, he said “therefore, I urge Tamil Nadu Chief Minister M K Stalin to intervene and resolve the issue.”

Panneerselvam recalled that during her tenure, former Chief Minister J Jayalalithaa took various steps to promote industries besides creating a conducive atmosphere in the State.

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