Tiruppur garment units request financial support

Coimbatore

The garment manufacturers in
Tiruppur and the Micro, Small and Medium-scale Enterprises (MSMEs) in
Coimbatore have appealed to the Tamil Nadu government for financial support as
the units are shut for a month due to lockdown.

Raja M Shanmugham, President,
Tiruppur Exporters’ Association, said that the State government should permit
the exporters to work with available labourers and restart production and also
ensure that the industry is able to vaccinate all the workers. Shanmugham also
sought 10 % additional credit assistance of up to 10 % of the outstanding as on
February 29, 2020 to MSME borrowers covered under ECLGS 1.0 without any
precondition for restructuring of the account. He added that the government
should announce RoDTEP rates immediately and extend the interest equalisation scheme
for three more years.

The job working powerloom units
in Tiruppur district have sought waiver of loans given to the weavers. According
to M V Ramesh Babu, President, Coimbatore
District Small Industries Association, the MSMEs are under complete lockdown
for four weeks and the units are unable to resume normal operations. Hence, the
government should extend the moratorium for one more year for both term loan
repayment and interest. The government should come out with a fresh financial
stimulus package and relax norms for submission of stock and book debts
statements, documents, etc

Source: TheHindu

Image Source: Google Images

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