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11 lakh traders still reeling under coronavirus impact in Telangana
11 lakh traders still reeling under coronavirus impact in Telangana
More than eleven lakh traders from Telangana are facing testing times of their lives with businesses affected for the last six months in Corona pandemic
Hyderabad: More than eleven lakh traders from Telangana are facing testing times of their lives with businesses affected for the last six months in Corona pandemic. Under the aegis of Telangana State Federation of Chambers of Commerce and Trade (TSFCCT), these traders are urging the central and state governments to come to their rescue.
The business slump is so big that they are doing just 20 to 30 percent of business compared to pre-Covid times and nearly 7 percent of traders have closed their shops already not able to run them.
Large, medium and small shops involving 29 different trades including Textiles, Readymade garments, Hardware, Electricals, Electronics, Footwear, Pharmacies, Automobile spares, Hotels and Tiffin centres etc have been severely hit.
According to Ammanabolu Prakash, President of Telangana State Federation of Chambers of Commerce and Trade, another 30 percent of shops are at the risk of closing down their shutters in next two months if the government does not extend them some relief. He pointed out this big slump to various traders was never seen before in the country after Independence. Not just Telangana, this is the situation in most states of the country, he pointed out.
The association has written letters to the Prime Minister, Union Finance Minister and Union Commerce Minister highlighting their sorry plight since mid-March till September last week. Like 20 lakh crore assistance given to industries and also agriculture, traders are seeking a separate package to support small traders, shops and also street vendors financially. Till the economy recovers, loans to large and medium scale traders be granted at an interest of 5 percent per annum as was given to SMEs.
According to Prakash, the traders community is very tense at the moment and if no financial support was forthcoming there is a risk of big collapse leading to huge unemployment.
The traders body pointed out to policy decisions taken in America, UK, Australia and other nations to extend financial assistance to traders to overcome the present crisis and a similar step was the need of the hour in India.
TSFCCT is also planning to reach to the state government for relaxations and relief steps at their level including electricity tariffs, property tax etc.
