Industries seek early release of support under ECLGS
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AAA Micro, Small and Medium-scale Enterprises (MSMEs) here have urged the banks to release at the earliest the 10 % assistance announced by the government under the Emergency Credit Line Guarantee Scheme (ECLGS).
R. Ramamoorthy, former president of the Coimbatore District Small Industries’ Association, said the units had sought 40 % support when the Scheme was announced last year. However, the government had announced 20 % assistance. It has now provided additional 10 % support. The government should provide another 10 % assistance under the Scheme and the banks should start releasing the funds at the earliest. “It will help the MSMEs disburse salaries and meet other fixed expenses,” he added.
MSMEs down shutters in Coimbatore
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Several Micro, Small and Medium-scale Enterprises (MSMEs) here shut down operations voluntarily since Monday.
Coimbatore District Small Industries Association (Codissia) president MV Ramesh Babu said almost 90 % of its members had stopped production. Only those who were catering to healthcare sector continued to run the units.
A few organisations, including Codissia, had urged its members to stop production in an effort to control the spread of COVID-19.
At the SIDCO Industrial Estate at Kurichi, 20 % of the units continued to operate. They had export orders or were vendors to exporting units or were supplying to the healthcare sector.
With the State government introducing new restrictions since Saturday morning, essential trades stopped business by 10 a.m. The police had barricaded entry into several roads in Coimbatore city. Retai
Coronavirus | Businesses down shutters, industries function in Coimbatore
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A total of 2,500 police personnel deployed across the district to enforce lockdown restrictions
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The usually busy wholesale grocery market on R.G. Street saw only a few customers on Monday morning.
A total of 2,500 police personnel deployed across the district to enforce lockdown restrictions
As the district entered into a two-week lockdown to control the spread of COVID-19, businesses downed shutters in Coimbatore and industries in the essential sectors continued operation.
Shops in the main commercial areas of the city – Gandhipuram, RS Puram and Big Bazaar Street – did not open on Monday. “The compliance is total and shops will remain closed during the lockdown period,” said C. Balasubramanian, president of the Indian Chamber of Commerce and Industry, Coimbatore.
Industries gear up for lockdown
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With the State to go under complete lockdown from Monday, industries in Coimbatore and Tiruppur districts that are in essential sectors or exports will continue to run. Meanwhile, several industries in the two districts also plan to shutdown on a voluntary basis.
A district administration official said that industries permitted in the government order will continue to function. Workers at these units will be allowed to travel to the industries.
In Tiruppur, Raja M. Shanmugham, president of Tiruppur Exporters Association, said the district administration had informed them that workers will not be permitted to come to work places on two-wheelers. Companies can organise transport facilities. “This has been conveyed to the exporting units,” he said.