Coimbatore, May 19 (KNN) Tirupur Exporters Association (TEA) has requested Prime Minister Narendra Modi to extend moratorium period for Micro Small and Medium Enterprises (MSMEs) for paying loan installments by three more months.

In a letter to Prime Minister, TEA President Raja M Shanmugham said that MSMEs and non-MSMEs are not big corporates, therefore, it would take six months for their revival.

''The COVID-19 lockdown period has been now extended to May 31 and taking into account the global market closure, the industries had not been operational for three months,'' he added.

He further said that without having any activities and any source of income the MSMEs could not repay the interest and principal.

The non-MSME units, which could be categorised just above the MSMEs but not in the league of big corporates such as Reliance Industries and Grasim Industries, had also been facing the liquidity crisis and certainly need government support to tide over the crisis, he said.

"Therefore, we request for extension of the moratorium on servicing of interest and principal at least by three to six months," he urged.