Ukraine crisis: Amritsar traders seek government help

Upset over the impact of the ongoing war between Russia and Ukraine on the economy and trade, Amritsar traders on Sunday sought help from the government to overcome their losses.

Upset over the impact of the ongoing war between Russia and Ukraine on the economy and trade, Amritsar-based traders on Sunday sought help from the government to overcome their losses.

Amritsar Distributors Association president Anil Kapoor addresses a press conference in Amritsar on Sunday. He said that earlier due to the pandemic and now due to the rise in the prices of petroleum products due to the Ukraine crisis has hit the traders hard. (Sameer Sehgal /HT)

The annual general house meeting of the Amritsar Distributors Association was held here, where their president Anil Kapoor and chairman Hira Lal Gambhir demanded interest-free financial assistance to the businessmen in this financial crisis.

Kapoor claimed that the ongoing war between Russia and Ukraine has led to an increase in the prices of petroleum goods and every product has come under the grip of inflation.

Kapoor said that earlier due to the pandemic and now due to the rise in the prices of petroleum products, the condition of the traders was deteriorating. Due to the increase in the prices of products, the purchasing power of the people has been affected and the stocks of goods are increasing in warehouses. Fewer sales have also led to delays in payments and hence distributors are moving towards a financial crisis, he said.