COTMA urges state and central government to provide aid for entrepreneurs
Coimbatore: In a press release by COTMA it said, "There are more than 40,000 factories operating in the districts of Coimbatore and Tirupur. Our COTMA Association has over 5,000 entrepreneurs and members. Due to the large number of entrepreneurs being members and being in close contact with entrepreneurs, the requests of entrepreneurs are presented here as demands."
"First of all, we would like to express our full support and cooperation of our COTMA Association for the 1 week lockdown announced by the Government of Tamil Nadu today 22.05.21. At the request of the Central Government on behalf of the entrepreneurs, Tamil Nadu, which has been severely affected by the Coronavirus, should be vaccinated without any shortage and those over 45 years of age who have been vaccinated for the first time should be given a second dose without delay."
"We request exemption from filing GST for the next 6 months. Also, no interest or penalty will be charged for those 6 months. Entrepreneurs who have not yet been able to pay GST should be allowed to pay only the amount of GST they owe without any interest and penalty. Among the entrepreneurs affected by the Coronavirus order have not yet received any loans from banks. No help was given to the entrepreneurs by the banks. Such entrepreneurs should be given interest free loans by nationalized banks on the basis of their current account transactions."
"For inactive accounts (NPA) the benefits announced during the last coronavirus curfew are not available. And last time, only to those who had already borrowed, 20% of term loans were provided by banks. However, entrepreneurs who paid their loan installments after 60 days were deferred by the banks due to Rule SMA 2. So with these in mind all affected entrepreneurs should have interest-free short-term loans provided by banks. In addition, entrepreneurs must be given an extension of 1 year to repay their bank loan installments and interest on their loan installments should be deducted for that 1 year period ."
They requested, "The Government of Tamil Nadu should provide interest free loans to entrepreneurs through banks to protect their livelihoods and allow entrepreneurs to repay their loan installments after returning to normal life. 6 months notice should be given for payment of electricity bills, drinking water bills and tax deductions. The next coronavirus lockdown has been imposed and on behalf of the COTMA Association, we urge the Central and State Governments to fulfill the legitimate demands of the above-mentioned entrepreneurs and protect the industry and entrepreneurs as this may further disrupt the livelihood of the entrepreneurs."
"First of all, we would like to express our full support and cooperation of our COTMA Association for the 1 week lockdown announced by the Government of Tamil Nadu today 22.05.21. At the request of the Central Government on behalf of the entrepreneurs, Tamil Nadu, which has been severely affected by the Coronavirus, should be vaccinated without any shortage and those over 45 years of age who have been vaccinated for the first time should be given a second dose without delay."
"We request exemption from filing GST for the next 6 months. Also, no interest or penalty will be charged for those 6 months. Entrepreneurs who have not yet been able to pay GST should be allowed to pay only the amount of GST they owe without any interest and penalty. Among the entrepreneurs affected by the Coronavirus order have not yet received any loans from banks. No help was given to the entrepreneurs by the banks. Such entrepreneurs should be given interest free loans by nationalized banks on the basis of their current account transactions."
"For inactive accounts (NPA) the benefits announced during the last coronavirus curfew are not available. And last time, only to those who had already borrowed, 20% of term loans were provided by banks. However, entrepreneurs who paid their loan installments after 60 days were deferred by the banks due to Rule SMA 2. So with these in mind all affected entrepreneurs should have interest-free short-term loans provided by banks. In addition, entrepreneurs must be given an extension of 1 year to repay their bank loan installments and interest on their loan installments should be deducted for that 1 year period ."
They requested, "The Government of Tamil Nadu should provide interest free loans to entrepreneurs through banks to protect their livelihoods and allow entrepreneurs to repay their loan installments after returning to normal life. 6 months notice should be given for payment of electricity bills, drinking water bills and tax deductions. The next coronavirus lockdown has been imposed and on behalf of the COTMA Association, we urge the Central and State Governments to fulfill the legitimate demands of the above-mentioned entrepreneurs and protect the industry and entrepreneurs as this may further disrupt the livelihood of the entrepreneurs."