Chandigarh, Dec 29 (PTI) Punjab trade and industry today threatened to boycott the forthcoming Assembly elections if the Election Commission of India did not withdraw its direction of cash confiscation over Rs 1 lakh without proof, saying it was affecting its business transactions. “We can think of boycotting Assembly elections if Election Commission does not rollback the guidelines of cash seizure as this step is hitting our businesses hard,” Punjab Pradesh Beopar Mandal, Secretary, Mohinder Aggarwal said today. “We have asked the Election Commission by writing a letter in this regard to immediately withdraw the direction of cash confiscation,” he said. Confiscation of huge amount of “unaccounted” cash by surveillance teams to curb “misuse of money power” in coming elections evoked sharp reaction from trade and industry, with its representatives complaining of business transactions being hurt. State Static Surveillance teams have seized unaccounted money over Rs 5 crore so from various places across the state. As per Election Commission?s guidelines, any person carrying cash over Rs 1 lakh would have to support the same with evidences during checking. Elections to 117 assembly seats in Punjab will be held on January 30. Aggarwal said Ludhiana?s hosiery sector which gets orders from buyers coming across the country has been adversely affected because of the confiscation of heavy cash by surveillance teams. “Buyers are now reluctant to visit Ludhiana to place orders for hosiery items like sweaters, jackets as they apprehend that their cash which is needed for purchase, will be confiscated by police,” he said adding, “as a result of which, hosiery trade is badly impacted.”
News Source: IBN
