Manipur Chief Minister N. Biren, who also holds the Finance portfolio, informed the Assembly on Monday that most of the businessmen in the State were unable to repay the loan amounts and interest. Though the government had tried to help the businessmen through moratoriums on the repayments, there was no enthusiastic response from them. Mr. Biren said that the moratorium had to be extended twice.
He was replying to a calling attention motion tabled by Thangjam Arunkumar. Mr. Arunkumar said that most of the businessmen were facing crisis in many ways. Since there was no moratorium and loan was not repaid most of the banks may take up legal measures. The crisis was caused by the COVID-19 pandemic and the ongoing unrest as a result of the Kuki Meitei clashes.
Mr. Arunkumar further said that young businessmen were facing problems as transportation charges had been hiked. The cargo fees had also been hiked impacting overall prices. He called for special measures as had been done in some big States in the past.
Mr. Biren said that cooperation was needed since the Manipur government could not repay the huge amount under any arrangement.
He also said that the government had issued notifications twice on the issue of moratorium. Another notice was issued which would remain effective till March 2024.
