Hit by Covid-19 lockdown, Noida MSMEs seek Centre’s help

NOIDA: Struggling to remain afloat because of the coronavirus outbreak and the next lockdown, micro, small and medium enterprises (MSMEs) throughout Noida and Greater Noida have knocked the Centre‘s door, in search of reduction measures together with interest-free loans and waiver in energy tariff and lease lease.
Some of them are even contemplating closing down their models after getting no assist from the federal government, the Noida Entrepreneurs’ Association (NEA), a neighborhood business physique, claimed. “After completing one month of the lockdown, entrepreneurs are now calling and saying they are very upset that after this long wait they are not getting any relief from the government,” NEA President Vipin Malhan stated in a press release.

“Some entrepreneurs are planning to shut their models if they don’t get any reduction. According to them, they’re already in loss because of worldwide recession and so they have large loans and liabilities. How can they survive now? Malhan stated.

The NEA, which has roughly 3,000 MSMEs as its members in western Uttar Pradesh’s Gautam Buddh Nagar, have sought authorities help in order that these companies can re-establish themselves, NEA vice chairman and spokesperson Sudhir Srivastava stated.

The NEA stated banks ought to utterly waive the curiosity on loans for the lockdown interval, whereas salaries given by the businesses ought to be borne by the Employees’ State Insurance (ESI) throughout this era of restriction.

Putting forth different calls for, Srivastava stated, “Fixed charge in the electricity bill should be waived for the lockdown period. Lease rent charged by Noida Authority should also be waived for the lockdown period. Banks should provide interest-free loan to entrepreneurs for one year so that they can re-establish themselves,” he added.

The NEA stated it’s hopeful that the federal government will take crucial motion very quickly to instill confidence within the MSME sector.

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