Coimbatore: While the industrialists are yet to come out from the shock caused by suicide of micro industrialist Yesuraj, one more micro industrialist at Coimbatore has commited suicide unable to bear the financial crisis caused due to 'Covid-19' impact.
There are more than 30,000 micro industries established across Coimbatore district. Post pandemic outbreak, all the micro industrialists are struggling hard to come out from the impact caused by the pandemic outbreak. In this situation abnormal price hike of raw materials has added more burden to the industrialists.
On January 28. a micro industrialist fromCoimbatore named Yesuraj aged 47 who was running a industry named 'Suguna Engineering' near Sulur committed suicide inside his industry unable to bear the losses. This incident gave a big shock to all the industrialists. Office bearers and members of industry associations, Communist party leader and members met the family members of Yesuraj and consoled. Within a month, one more micro indusrialists have commited suicide unable to bear the losses.
As per the information provided by Police department, Mayilsamy aged 63 who was running an engineering workshop at Saravanampatti, Krishnapuram committed suicide inside his house on February 20 (yesterday). His son Choudry in the complaint has mentioned that unable to bear the losses in the industry which was caused due to 'Covid-19' outbreak his father has commited suicide. This news has given a big shock to the industrialists.
Consortium of Indian Association, Conveynor, KE Raghunathan said, "The increase of suicide incidents among industrialists due to financial crisis is very disturbing. One must first understand the reason why the industrialists are tempted to commit suicide. They would have been honest and would have borrowed loan from financial instituions and started repaying it properly. When suddenly crisis arises such as pandemic outbreak or abnormal pricing of raw materials etc, they would feel no one to support them.
When an industrialist succeeds many would be around them. During failure they would be left alone. Their dignity gets affected, they see their loved ones suffer. Hence they try to overcome crisis again borowing loans but ended up in losses. Hence at last they take this extreme decision to commit suiide.
Previously only private finanance companies implemented strict procedures for loan recovery. Whereas now even the organissd financial institutions have started to implementing strict recovery procedures for recovery. For the past six months I am continuously alerting. From January all the financial institutiions have started implementing strict prcedures in loan recovery.
Central government finance schemes did not reach the Micro industry sector. Most precious Human lifes must be saved. This is high time for the government to take the needy steps."
Tamil Nadu Association for Cottage and Micro Enterprises (TACT), District President, J.James said, "It is really shocking to hear such these news. Each and every micro industrialist is a priceless asset for the government. Post pandemic outbreak the situation in the micro industry sector is getting worse every day. We have submitted various representations to the government in which various requests such as One year no EMI payment, Upto Rs 50 lakh loans the interest must be waived off for one year. All the loan recovery procedures must be stopped for the next one year etc. The government should start showing more interest in saving micro industry sector which is playing a vital role in the overall industry growth."