President of Vizagapatam chamber of commerce and Industry Veeramohan thanked the CM for the Restart package for MSMEs, release of tuition fee dues to colleges and implementation of Navaratnalu schemes as promised in the election Manifesto.
Mr. Veeramohan, President of Vizagapatam chamber of commerce and Industry thanked the honourable Chief Minister for the wonderful Restart package for MSMEs, release of tuition fee dues to colleges and implementation of Navaratnalu schemes as promised in the election Manifesto.
He also said that the Honourable Chief Minister identified MSMEs role in supporting the State economy and its contribution to employment generation. During these difficult days MSMEs were in precarious state of finances and were on the verge of bankruptcy and closure due to disruption brought by the lockdown.
The Restart package is simply like oxygen given to the industries on the death bed. It is not an easy thing to release more than ₹1200 crores particularly when the state is in financial stringency and facing many challenges. Release of incentives kept pending by previous government for many years, waiver of fixed/demand charges of power for three months, deferment for large industries, working capital with lowest interest rate, purchase of 25% of our products by government entities with a stipulation to pay withing 45 days will boost our liquidity, help in quick recovery and keep the plants back on track. The MSMEs have already started reopening the industries with more vigour and enthusiasm.
The President said that waiver of fixed demand charges of Power was not extended to a minor section of the business houses like retail, hotels, convention centres, etc. During closure of business due to lockdown these organisations were forced to pay fixed power charges. It is a big burden for these businesses. Lakhs of employees are working in these business houses and the owners of these businesses are paying salaries, rents and other overheads. If the fixed charges are not waived to these businesses many businesses will collapse and will be closed.
The President also submitted to the Hon. CM to consider waiver of Property Tax, Trade Licence charges and profession tax for 3 months to all business.