Lock down: LJP Meghalaya urge Centre to bail out daily wage earners, small business traders

Syllad | The Rising MeghalayaMarch 25, 2020

The Lok Janshakti Party (LJP) Meghalaya has sought the intervention of the Prime Minister Narendra Modi into the need to bail out daily wage earners, small business traders, firms and entrepreneurs in view of the 21 days lock down.

In a memorandum submitted to Modi on Wednesday, LJP state president Jamil Ahmed said it is a well known fact that the majority of  populace is poor, downtrodden, daily wage earner, small traders and small entrepreneurs etc.

He said the lock down will not only hamper their earnings but the expenses without earning will kill them economically. Most of them are running their business without working capital. Their expenses like house rent, salary to staff, electricity bill, Taxation, bank interest on loans, GST, Provident Fund, and property tax etc are recurring every month.

“In the case of total closure of the businesses, it is hard for them to meet the above expenses. Keeping in mind the above, the aforesaid business community will collapse without the Government support and help,” Ahmed said.

In view of this, the LJP further suggested that all commercial electricity bills be cut to half for the next 3 months, small firms/companies be allowed to retain 10% of GST payable for next 12 months and moratorium of interest payments on loans from the banks and NBFCs for the next 6 months.

“All EMIs to banks and NBFCs to be put on hold for 6 months with no levy of interest or delayed payment. Employees share of the provident fund to be borne by the Government for a period of 6 months. Employees share of the ESIC to be borne by the Government for a period of 6 months. Property tax for FY- 2020-21 to be reduced to half for all commercial properties,” it said.

Stating that the government used to be sympathetic to the farmers during drought and flood like situations and waive their loans or interests to ease their burden, the party said that the present situation is not less than a drought or flood for the small businessmen, so they too deserve a sympathetic consideration from the Government.