Dimapur, April 29 (MExN): The Confederation of Nagaland Chamber of Commerce and Industry (CNCCI) today requested the State Government to come up with relief for measures for the business community in distress.
The CNCCI which is the apex organization of the business community in the state submitted a representation to Chief Minister Neiphiu Rio, highlighting the plight of the business community in the state in view of the COVID-19 lockdown and sought the inclusion of the business community in the relief measures initiated by the government.
With almost all the businesses coming to a halt for over a month, the CNCCI stated that many entrepreneurs, especially the startup establishments are in distress with regard to payment of rent for shops and godowns. Startup establishments having Cash Credit facility (CCs) with banks are now on the verge of collapse as interest is compounding, it said.
Moreover, many business houses having stock hypothecated to banks dealing with short shelf life goods are likely to face massive loss as the lockdown has stretched 3 months from march to may, stated CNCCI Chairperson Dr Khekugha Muru and General Secretary Dr Seyievilie Mor in the letter.
As such, the CNCCI urged the Government of Nagaland to “take up this issue with utmost seriousness.”
