By Ashapradeep Bureau.
The Utkal Chamber of Commerce and Industry (UCCI) have requested the Union Government to announce a stimulus package for MSME sector to help it come out of the pandemic shock.
Submitting a memorandum to Union Minister of State for MSME, Pratap Sarangi, UCCI president Brahma Mishra said due to the Covid 19 pandemic. Which has affected all facets of trade and Commerce, it is imperative that MSME deserves special considerations and fiscal stimulus.
The budget allocation has increased from Rs7552 crores. However what is lamented is the poor implementations by financial Institutions. In carrying out the guidelines and there by defeating the basic objective of protecting MSME’s, he said.
The ICCI team led by Mishra suggested to the Minister to consider extending the moratorium till 31.03.2022, restoring rating of units as pre Covid rankings, restructuring of NPA’s if any during Covid pandemic, simplification of credit sanctions to MSME including ECLGS, factoring services for MSME to improve cash flow and interest Subventions.
“We request your good office to take proactive measure and help the MSME sector to surmount the challenges of the pandemic and restore vibrancy of the sector”, Mishra urged Minister Sarangi.
The 6.4 million MMSMEs in India generate employment of 11 crore of people. Contributing to almost 44% of exports they have a significant and decisive role in economic growth and revival of the economy, Mishra said.
The Union Minister today visited the head quarter of UCCI in the city and international with the newly elected office bearers of this apex chamber in thE State which comprises sectors like industry, trade & services.
Notably, UCCI has completed more than 56 years having started in the years 1964 under the inspiration and motivation of the legendary Biju Patnaik. The Chamber has more than 900 members and has almost all the mega and large industries, medium and small industries of Odisha in its fold including large, medium and small trading houses as well as service sectors.
On arrival of Shri. Pratap Sarangi at UCCI on 07.02.2021, President Brahma Mishra greeted him with warmth. The other members present were Ashok Sharda Vice President, Deepak Rathod Vice President and other office bearers of UCCI.
