Ahmedabad, May 19 (KNN) Micro, Small and Medium Enterprises (MSMEs) have approached Nitin Gadkari seeking help for the survival of the sector in the state.

In a letter to Union MSME Minister Nitin Gadkari, the Gujarat Chamber of Commerce and Industry (GCCI) highlighted how industries, especially the MSMEs are facing survival issues due to the restrictions imposed in the second wave of the pandemic.

''This situation poses a very serious threat to the economy and MSMEs, which are drivers of industrial growth and employment. It is therefore necessary to provide as much relief as possible to help them survive,'' the letter stated.

GCCI president Natubhai Patel suggested that there is a need to extend the number of days for a bill to be discounted, from 90 to 150 days, which will enable the working capital cycle to operate smoothly.

''Last year when similar conditions prevailed, an additional working capital finance of 20 per cent of the outstanding credit was provided to the MSMEs in the form of a term loan at concessional rate of interest without any guarantee or collateral. We request that this year too, additional working capital finance of 20 per cent of outstanding credit as on March 31, 2021 over and above the limit sanctioned last year should be provided,” he added.

The chamber requested Gadkari to take early action in the matter and have a positive consideration of their suggestions.