Hit By Coronavirus Lockdown, Noida's Small Firms Seek Government's Help

Struggling to stay afloat due to the coronavirus outbreak and the subsequent lockdown, micro, small and medium enterprises (MSMEs) across Noida and Greater Noida have knocked the central government's door, seeking relief measures including interest-free loans and waiver in power tariff and lease rent..Some of them are even considering closing down their units after getting no support from the government, the Noida Entrepreneurs' Association (NEA), a local industry body, 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 said in a statement.."Some entrepreneurs are planning to close their units if they do not get any relief. According to them, they are already in loss due to worldwide recession and they have huge loans and liabilities. How can they survive now?" he said..The NEA, which has approximately 3,000 MSMEs as its members in western Uttar Pradesh's Gautam Buddh Nagar, have sought government help so that these businesses can re-establish themselves, NEA vice president and spokesperson Sudhir Srivastava said..The NEA said banks should completely waive the interest on loans for the lockdown period, while salaries given by the companies should be borne by the Employees'' State Insurance (ESI) during this period of restriction..Putting forth other demands, Mr Srivastava said, "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 said it is hopeful that the government will take necessary action "very soon" to instill confidence in the MSME sector..The NEA has written to the Prime Minister's Office, the MSME Ministry, the Finance Ministry, among others, apprising them about the situation but was still awaiting their response, Mr Srivastava claimed.

Hit By Coronavirus Lockdown, Noida's Small Firms Seek Government's Help

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