We recently spoke with P Sajith of Welbound in Mumbai on his return from Kerala. Welbound of course has several manufacturing facilities in the state and while the damage
to them was not extensive, the loss of lives, damage to the employees’ homes and families is immense. Although the initial period of shock and loss is over, recovery will take time. The industry also needs to take a deep breath and then help with what is really needed and in a manner that will have positive effect. The rebuilding of lives and homes will have to take precedence over the recommissioning and rebuilding of machines and plants.
The Kerala Master Printers Association has given an assessment of initial or current losses by print businesses of Rs 150 crore with longer term losses, perhaps including loss of business estimated to be in the region of Rs. 400 crore. At a press conference in Kochi, O Venugopal, of the KMPA and the vice president of the All India Federation of Master Printers said, “A majority of the printing presses located in Aluva, Chalakudy, Perumbavoor, Cheranalloor, Eloor, and Udyogamandal suffered damage. Several printing presses in Kozhikode, Pathanamthitta, and Alappuzha were also inundated. Damage to machinery and facilities are of the order of Rs 150 crores. Considering the loss of business, the total loss will rise up to Rs 400 crores.”
“Since the majority of these printing presses were using foreign-made machines, it will not be cheap to repair them. Machines worth crores of rupees were bought mainly with the support of bank loans,” Venugopal added.
KMPA’s initial report indicates that 75 large and small printing plants were severely affected by the floods. The association has appealed to the government and the banks for moratorium on repayment of instalment of bank loans and for financial assistance in the recovery period.
“Debt will mount up as it will take nearly six months to repair and restart operations. It will be of great help if the government announces some financial aid or interest-free loans now. A majority of the printing presses don’t have insurance cover to claim compensation,” said R Gopakumar, president of Kerala Master Printers Association. The KMPA is holding a seminar on general insurance on 24 September 2018, to help printers understand the ins and outs of insurance coverage of disasters, floods and natural calamities.
