New Delhi, June 2 (TIWN) Recommending a slew of relief measures, including regulatory easing, an ASSOCHAM paper has said that the government should consider wage support mechanism and interest subvention for the MSMEs, which are reeling under the severe impact of the Covid-19 pandemic that has shown its heightened fury in the second wave.

Even as the states are in the process of easing lockdowns, the trade and industry would need an all-round support to pick up their business thread again, after halt or near-halt of their operations since middle of April, stated the recommendations report that ASSOCHAM submitted to the government.  Batting for protection of employment, it said, "The surplus funds of ESIC (Employees State Insurance Corporation) should be used for providing wage support measures/stimulus package for the employees."  ASSOCHAM Secretary General Deepak Sood said, "Wage and job protection measures have been further extended by several countries, including the US. After all, consumption, especially the non-discretionary, has to be ensured by protecting earnings of people even in the lockdowns. Government intervention is critical.