National

Traders’ body disappointed with economic package

LN Revathy Coimbatore | Updated on May 17, 2020

Plans to seek PM’s intervention

Traders across the country have registered their protest against the Government for being side-lined in the economic package announcement.

The Confederation of All India Traders (CAIT) has, on behalf of the 7-crore+ traders across the country, said the community is terribly upset about this step-motherly treatment.

CAIT National President BC Bhartia and Secretary General Praveen Khandelwal, while expressing utter dismay said the traders’ body will seek the Prime Minister’s intervention in this regard.

The Prime Minister has on several occasions called the traders the backbone of the economy; even under troubled circumstances, the kirana retailers have proved to be corona warriors and ensured the supply of essential commodities.

The traders will be in deep financial crisis once the lockdown is lifted as they will have to pay workmen salary, interest and loan dues to the bank and settle other financial obligations.

CAIT expects at least 20 per cent (of the traders) to wind up their business and another 10 per cent that are dependent on the 20 per cent to close their operations.

“The situation is grim; the government has refused to handhold the traders. It is a pity that such an important sector of the economy has been over-looked,” Bhartia said.

Published on May 17, 2020

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