Stalin writes to Nirmala for supporting flood hit MSMEs
In his letter to union finance minister Nirmala Sitharaman, Stalin said that about 4,800 MSMEs in the 24 industrial estates in Chennai, Chengalpattu, Kancheepuram and Tiruvallur were rendered dysfunctional owing to the torrential rains which damaged the raw materials and their finished products.
M K Stalin; Nirmala Sitharaman
CHENNAI: Chief Minister M K Stalin on Saturday urged the union government to disburse additional capital loans and extend the repayment tenure of MSMEs affected by Cyclone Michaung in the state.
In his letter to union finance minister Nirmala Sitharaman, Stalin said that about 4,800 MSMEs in the 24 industrial estates in Chennai, Chengalpattu, Kancheepuram and Tiruvallur were rendered dysfunctional owing to the torrential rains which damaged the raw materials and their finished products.
Remarking that it was imperative to rescue and revive the industries that contribute to the overall economic development and employ thousands of workers, the CM said that though the electricity supply and road transport was immediately restored, the industries require some time to restart production.
Hence, the loan repayment tenure of the MSMEs must be restructured, additional overdraft provided and additional capital loans must be provided and their insurance claims approved without delay to facilitate the revival of the MSMEs in the flood hit areas, the CM was stated to have told the union finance minister.
