Electronics traders demand reopening of market to break the economic deadlock

Aurangabad, May 29:

For the second year in a row, the lockdown has hit the electronics market. Zero income and huge debts have put traders in financial trouble. The television dealers association has demanded that the district administration should allow the opening of all shops from June 1 to solve this dilemma.

There are 160 electronics showrooms in the district. Of these, 100 showrooms are in the city. The turnover in the electronics market remained low in the festive season. Between March and May, 25,000 to 30,000 coolers, 5,000 to 6,000 ACs and 15,000 to 20,000 refrigerators are sold. But this near, nearly 80 per cent business was hit. Each electronics distributor has a bank loan of between Rs 1 crore and Rs 5 crore. Similarly, shop rent, warehouse rent, light bill, staff salaries, other tax bills continue. Electronics, home appliances distributors have faced major loss from two consecutive seasons. Many traders are under a lot of stress. The number of corona patients has come down and electronics distributors are demanding that shops be allowed to open from June 1, either from 10 am to 2 pm or from 4 pm to 8 pm.

Small electronics shops closed

Around 12 small and medium electronics shops in the city have closed down. The administration should allow us to start shops now to break the financial trouble. Otherwise, some more shops will be closed in the near future. The district administration should take note of the seriousness of this issue, said Sanjay Sanghvi, president, television dealers association.

Debts have increased

There was a lockdown during festive season for two consecutive years. During this period 40 per cent of the annual turnover is generated. Now the debts have increased. If the showroom is not allowed to open from June 1, we will hand over the key showroom to the district administration, said Sanjay Kore, director, Shri Distributors, Electronics

Pushed us four years behind

For the second year in a row, shops were closed from March to May due to the lockdown. The sales in four days on Diwali and Gudipadva are important. This has pushed us four years behind in electronics turnover, said Arun Jadhav, director Arun Electronics

Give extension to pay the loan installments

Showrooms are closed during lockdown. Eighty percent of refrigerators, air conditioners and coolers are unsold. To get out of this financial trouble, the banks must allow us to pay loan installment for period of 3 months in the next 12 months. No compound interest should be charged on it, said Pankaj Agarwal director, Sania Distributors.

Allow showrooms to open in the morning or evening

The electronic market should be allowed to open showrooms at any one time from 10 am to 2 pm or from 4 pm to 8 pm. Because, now it is impossible to close the business. The trader is stuck in a financial quandary, said Deepak Sarvade, director, Sarvade Agency.