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CII seeks relief package for MSMEs in Mangaluru

Updated: Mar 23, 2020 06:18:37am
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CII seeks relief package for MSMEs in Mangaluru

Mangaluru, Mar 23 (KNN) The Confederation of Indian Industry (CII), Mangaluru, has sought relief package from the government for Micro Small and Medium Enterprises (MSMEs) sector, if the lock-down of industries continue for a long time.

K Prakash Rao, Chairman of the Mangaluru council of CII, requested that payments of all dues and taxes should be extended by 30-45 days and there shouldn't be any penalty, on delayed payments.

Citing that MSMEs here are facing problem, due to COVID-19 outbreak, the banks should provide moratorium period for repayment of loans and other forms of debts for six months, without impacting the credit rating.

He also said that norms for declaring NPA period in banks should be extended to 180 days adding that ''the MSMEs need bank assistance to deal with the situation.''

He said minimum charges in the electricity bills should be suspended for the period.

Rao also sad that ESI, should cover the wage for employees under quarantine, too.

''Many of the employees have their relatives in the UAE and would have returned home now. They are required to be under self-quarante under these circumstances. However, if they are not compensated, they will not do this. We must strongly recommend to the Government that ESI must provide compensation for wages for quarantining period also," he added.

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