SME associations urge state, center for immediate measures to fight looming slowdown

Small and medium-sized enterprise (SME) bodies in Pune region have urged the central and state government to take urgent measures to help them fight the looming recession.

   
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As per news reports, many small and medium-sized enterprise (SME) bodies in Pune region have urged the central and state government to take urgent measures to help them fight the looming recession. Industry bodies have said that without any intervention, a major slowdown that could affect people.

According to reports, Sandeep Belsare, president of the Pimpri-Chinchwad Small Scale Industries Association, stated that they have asked the government to reduce their electricity bills by half for the next three months, besides 50 per cent reduction in their GST contribution for the next 12 months. He quoted, “we have asked for a six-month moratorium on loans for the next six months,” the release stated. They have also asked for a six-month grace period for employees and employers to file their ESIC payment.

Reports claim that the ongoing lockdown has seen all manufacturing units in Pune district ceasing their operations. Unlike the IT industry, the manufacturing sector does not have the option of working from home.

The Industry bodies have said that the lockdown has brought about an unprecedented crisis, which would be difficult to face without government intervention. They have said that the SME sector requires a Rs 25,000 crore revival package from the government.

Belsare has asked for three-day special passes for employees of the account and other divisions of various companies to make payment for their employees on time.