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Battered by rough weather, seafood sector seeks Centre’s aid
January 28, 2021
Exporters yet to get ₹2,500-crore MEIS support due from April last year
The crisis-ridden seafood sector has sought the Centre’s support for the release of ₹2,500-crore under MEIS (Merchandise Exports from India Scheme) since April last year.
MEIS refunds are pending with the government which, in turn, has put tremendous pressure on the working capital especially on MSME units in the sector, said Alex K Ninan, President of Seafood Exporters Association of India - Kerala region.
Rocketing interest rates
He added that the banks have not waived any interest or their charges during the lockdown period. Instead, they have granted only additional loans with a higher rate of interest by withholding promissory notes and personal securities unlike the government’s order.