home

MSME sector badly mauled by Covid pandemic

MSME sector badly mauled by Covid pandemic HIGHLIGHTS Chamber of Commerce and Industry president Seshanjaneyulu says if the third wave strikes again and lockdown is reimposed, then it will send death knell to the MSME sector and majority of industrial units will have to close permanently Anantapur: The Medium Small and Micro Enterprises (MSME) like in any other district is going through a very difficult phase courtesy first and second Covid waves. The talk of a third wave is sending chill into the spines of MSME entrepreneurs and workers. On an average every MSME unit is running with 30 to 50 per cent capacity. The first Covid wave had landed the MSME sector in doll drums as industrial units were shut down completely for 4-5 months while industry functioned for another 6 months with a single shift and reduced capacity. The first and second waves had landed the industry in financial quagmire resulting in downing the shutters of some units while large number of units had been running on single shifts. Also Read - Why no large-scale testing of Delta Plus variant: Rahul Gandhi ADVERTISEMENT The industrial units are barely able to pay power bills. Daily wage labourers had been laid off while permanent workers have been retained but managements are struggling to pay salaries to their regular employees. This is landing the managements in indebtedness even to pay 50 per cent of salaries. Chamber of Commerce and Industry president Seshanjaneyulu told The Hans India that if the third wave strikes again and lockdown is reimposed, then it would send death knell to the MSME sector and majority of industrial units will have to close permanently. Most of the industrial entrepreneurs are showing courage and running the industry against all odds