CAIT Writes to Commerce & Finance Ministers and Explained Why Retailers are Unable to Pay Full Wages
In a candid statement, Praveen Khandelwal, Secretary-General of CAIT mentioned, "If such payments are made, the business of the traders will fall on the ground and in absence of any inflow of money, such payment will be disastrous for the retail trade of the Country and in turn will badly affect the economy."
The nation is under the grip of COVID-19 pandemic and there is a pressure on entrepreneurs and business owners to ensure proper functionality of their business. On such backdrop, Confederation of All India Traders (CAIT) has written to Union Commerce Minister Piyush Goyal as well as Finance Minister Nirmala Sitharaman expressing the inability of the traders for paying full wages to their employees for the month of April.
The traders’ body has requested the intervention of Goyal in this matter which is of great concern for the traders, small Industries and another industrial sector of the country.
In a candid statement, Praveen Khandelwal, Secretary-General of CAIT mentioned, “If such payments are made, the business of the traders will fall on the ground and in absence of any inflow of money, such payment will be disastrous for the retail trade of the Country and in turn will badly affect the economy.”
”It is becoming difficult for traders to pay full salary for the month of April to their employees since they are experiencing tremendous financial crunch and any full payment of salary to the employees for the April month is next to impossible,” he added.
CAIT’s Urge to GOVT
The CAIT further said that while realising the unprecedented current situation, the government should carve a method under which this crucial and critical issue is resolved to the satisfaction of all.
In a letter to Finance Minister Nirmala Sitharaman on Wednesday, CAIT had urged the government to allow traders to pay salaries as per a mutual agreement between the employer and the employee or allow them to pay 30 per cent of the salary to meet their livelihood needs.
Alternatively, the government may contribute 50% of the salary, traders may contribute 25% and rest of 25% to be bear by the employees, CAIT had suggested.
Under the current scenario, when there is no business and traders are overburdened with several financial obligations, a needy intervention from the government is required to meet the end of justice, CAIT said in a letter to FM.