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| Traders ignored while announcing economic package: Traders Federation | | |
Early Times REport
Jammu, May 18: Traders Federation Ware House Nehru Market today alleged that the traders community has been totally ignored while making announcement for economic package by the Finance Minister.
“Finance Minister Nirmala Sitharaman may have announced all relief and reform measures as part of the Rs 20 lakh crore economic package to tide over the coronavirus crisis, but a major segment of the economy, “the trading community” is feeling left out as no specific support came in for trading community”, the press release said.
Federation has expressed deep disappointment and resentment against the Government on behalf of the trading community who have been completely ignored while announcing the Economic package.
Describing the government’s approach as a “step-motherly” treatment towards traders, the Federation General Secretary Sh. Deepak Gupta said that every trader is anguished and registers their protest today because they have been completely side lined by the government while preparing the much awaited economic package. “We had a meeting of office bearers under the Presidentship of Rattan Lal Gupta, President Traders Federation Ware House Nehru Market Jammu and teleconference with trade heads of mobile, shoe sellers, cloth merchants, hardware, automobiles etc., where in it came to fore that this community will be landing into great financial crisis on lifting of lockdown as they will have to pay salary, interest, bank loans, taxes, Electricity bills and various other financial obligations”, gupta said.
It is expected that nearly 20 per cent traders will have to wind up their business and another 10 per cent traders dependent on these 20 per cent traders will have to close their business, the General Secretary said. He said that traders needed wage support, moratorium for payment of principal and interests and support in the form of working capital. These measures are critical to survive. Even the relief measures offered to MSMEs by the government do not help trade as traders are not covered under the MSME sector, he said.
He said that traders need working capital in their hands to retain employment as lack of support will result in closure of business.
Sr. Vice President Dheeraj Gupta, Vice President Munish Mahajan, Secretary Abhimanyu Gupta and Cashier Vishal Gupta were present during the meeting.
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