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FAPSIA hails release of incentives to MSMEs
Federation of Andhra Pradesh Small & Medium Industries Associations (FAPSIA) in a statement here on Friday hailed the government decision releasing the incentives which have been pending for the last five years giving great relief to the micro, small and medium enterprises (MSMEs)
Vijayawada: Federation of Andhra Pradesh Small & Medium Industries Associations (FAPSIA) in a statement here on Friday hailed the government decision releasing the incentives which have been pending for the last five years giving great relief to the micro, small and medium enterprises (MSMEs).
Murali Krishna Vasireddy, president of FAPSIA, pointed out that the economic recession due to Covid-19 has broken thebackbone of MSME sector. The lockdown made the financial conditions worse and the sector has not been unable to keep up the financial commitments.
Murali Krishna said that the FAPSIA, on behalf of the MSME sector, likes to express its sincere gratitude to Chief Minister Y S Jagan Mohan Reddy towards the relief provided during these challenging times.
The FAPSIA appreciates the release of the long-standing incentives by the State government to support the entrepreneurs in these times of great need. Also, the decision to waive off the minimum power charges is a huge relief, from an entrepreneur perspective, he said.
Murali Krishna said that the FAPSIA would also be thankful to Minister for Industries Mekapati Goutham Reddy, Special Chief Secretary of Industries Rajath Bhargav and Director of Industries J V S Subramanyam for the recommendations made to the Central government.
He also urged the Central government to look after the issues of MSME sector and do the needful immediately.
