Industries Minister KT Rama Rao today requested the Centre to offer financial support and fresh loans to MSMEs which suffered a huge loss in the Corona period.
He wrote a letter to Union Finance Minister, Nirmala Sitharaman and urged her to take immediate action in this regard.
The Minister urged the centre that an extension of moratorium till March 31 next year, stopping interest on loans given and offer fresh loans will help revival of MSMES.
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During the pandemic the companies faced a heavy loss as the products not sold or shifted and workers migrated back home, the minister expressed concern. Employees were not paid as the companies could not cope with the losses KTR stated.
Against this backdrop the centre take steps to offer fresh loans and extend the moratorium and cancel the interest, he appealed. The city is surrounded by many such companies that faced loss in the lockdown event he said.
The Minister further said that during the Corona pandemic period raw material was not received and saw losses due to lack of sales, workers and production.
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On behalf of the Government, we urge the Centre to take action to support the companies he added. By taking action we can provide the necessary boost to these small and micro-level companies to get back to the pre-Covid period the minister said.
SOURCE-NSS
