MSME sector calls for relief

Karnataka Small Scale Industries Association (KASSIA) has said that low order books, delayed payments and high interest costs are dealing a death blow to MSMEs (Micro, Small & Medium enterprises) which are already reeling under recessionary market conditions.

President of Karnataka Small Scale Industries Association (KASSIA), B P Shashidhar on Wednesday called on the state government to announce appropriate relief to small-scale industry units.

He also called upon the government to provide soft loans to MSMEs from state-level banks/FIs like cooperative banks and KSFC, while also urging PSBs and institutions like SIDBI, to consider the suggestion.

He observed that most MSMEs are working on single shifts from three shifts a day earlier due to paucity of orders.