VIJAYAWADA: The Andhra Pradesh Chambers of Commerce and Industry Federation has thanked the state authorities for taking immediate initiatives to assist the enterprise enterprises that had been severely impacted on account of the devastating floods in Vijayawada.
The AP Chambers has expressed its gratitude to Chief Minister N. Chandrababu Naidu for asserting monetary assist of Rs 25,000 every for small enterprise institutions, Rs 50,000 every for registered institutions and MSMEs with turnover of lower than Rs 40 lakh every year, Rs 1 lakh every for institutions with turnover between Rs 40 lakh and Rs 1.5 crore, and Rs 1.5 lakh every for institutions with turnover above Rs 1.5 crore. Earlier, the Chief Minister introduced that Rs 100 crore could be allotted as a credit score assure to MSMEs.
According to a launch issued on Wednesday, the AP Chambers noticed that the monetary support introduced by the federal government will certainly assist enterprise institutions resume their operations after struggling big losses as a result of floods.
In gentle of the devastating floods, the AP Chambers has submitted numerous ideas on mitigating the losses suffered by the enterprise enterprises to the division of industries and Chief Minister’s Office which embody monetary assist and mortgage restructuring, emergency monetary support, releasing pending incentives to the affected on a prime precedence foundation, releasing pending authorities procurement associated funds, waiver of taxes, waiver of energy payments for 3 months, insurance coverage and threat administration assist, infrastructure and facility restoration, monetary grant for paying worker salaries to assist the companies impacted by the floods.
The AP Chambers stated it’s hopeful that the federal government will announce different assist measures shortly to convey companies again on observe.