CM Y S Jagan Mohan Reddy to release SMSE Restart package today

Amaravati: The state government will commence disbursal of financial assistance to MSMEs (micro, small and medium enterprises) on May 22, Friday, to the tune of Rs 1,120 crore including Rs 905 crore dues, under the Restart Package.

This is part of the promise given by Chief Minister Y S Jagan Mohan Reddy during the Covid-19 lockdown.

The government announced release all sanctioned but outstanding incentives to MSME units to a tune around Rs 905 crore in two phases, in May and June, this year.

As per that plan, the government will release the first phase instalment on May 22, said minister for industries Mekapati Goutham Reddy.

In addition to that incentives like waiver of three moths fixed demand power charges for MSMEs, deferment of power minimum demand charges for three months for a large and mega units, working capital loans for MSEs along with preferential market access for them will be rolled out, he explained.