Industry stares at loss of Rs 15,000 crore and 3 lakh jobs: Plastic manufacturing industry

A day after the Maharashtra government implemented the ban on manufacturing, use, sale, distribution and storage of plastic materials, the plastic manufacturing industry said that the ban will result in loss of up to Rs 15,000 crore and nearly 3 lakh job.

The state government on Saturday put aban on plastic materialsincluding carry-bags and thermocol.

"The ban imposed by Maharashtra from Saturday has hit the industry very hard and the plastic industry is staring at a loss of Rs 15,000 crore, leaving nearly 3 lakh people jobless overnight," Plastic Bags Manufacturers Association of India general secretary Neemit Punamiya said.

Terming the ban as "discriminatory" the general secretary also added that about 2500 members of the association had to shut the shop after the ban.

The people from the Industry also said that the job losses from the ban will impact the state's GDP, and also increase banks' bad loans from the plastic sector.

The state had announced a ban on the manufacture, use, sale, distribution and storage of plastic materials such as one-time-use bags, spoons, plates, PET and PETE bottles and thermocol items on March 23.

The government had given three months time to dispose of the existing stocks, which ended on June 23.

The fine for the first-time and second-time offenders will be Rs 5,000 and Rs 10,000, respectively. A third violation will attract a fine of Rs 25,000 and a jail term for three months.

After the implementation of the ban in Maharashtra, the state has become the 18th state in the country to impose such ban.

(With inputs from PTI)