Over 1.5 lakh employees of shopping malls in Karnataka lost jobs in a year

News Network
June 13, 2021

Bengaluru, June 13: More than 1.5 lakh employees in shopping malls across Karnataka have become jobless due to lockdowns and restrictions over the past year and owners have incurred losses in crores of rupees. Mall owners have urged the government to allow them to reopen by June 21 to help them stem the tide.

Mukesh Kumar, chairman, Shopping Centres Association of India (SCAI) & CEO, Infiniti Malls, said for every person directly employed with malls, on an average, three others are indirectly employed, providing logistics and support.

“In such a scenario, at least 1.5 lakh people have lost their jobs in the state,” Kumar said during a press conference in Bengaluru on Friday. “Though around 50,000 of them were reemployed after malls reopened for a brief time, many were laid off during the second lockdown,” he said. He said over 50% of malls, a majority of them standalone ventures, will close down if no support is provided.

Sunil Munshi, AVP operations, Orion Malls, said almost 80% of employees working in malls, shops, restaurants and service sectors come from economically weaker sections.

Kumar said a moratorium extended by RBI last year ended in March and they now have nothing to fall back on. “There has hardly been any revenue for a retailer or the mall. The past few months have been so stressful that we don’t know how to cope,” he said.

He said on average, revenue from retail in malls in the state is Rs 2,000 crore per month. They pay Rs 350 crore GST. Due to lockdowns, retails have incurred losses of Rs 20,000 to 25,000 crore and governments have suffered GST loss of Rs 3,000 crore. “Malls have lost 15% of the revenue generated by retailers,” Kumar said.

Kumar said pre-Covid estimates show that across India, 1,000 malls generate monthly revenue of Rs 12,000-Rs 15,000 crore. The whole ecosystem has suffered almost Rs 1 lakh crore losses.

Najeeb Kunil, CEO, PPZ Mall Development & Management Services Co said they have urged the state government to provide waivers around rental / lease, electricity charges, upcoming renewals of existing permits / licenses / NOCs among others. They have also sought waiver of property taxes payment till January 2022 and support around minimum wages rates and guard-board payments until FY 2021-22.

He also feared a downstream effect hitting smallscale industries and small businesses which have no income with shopping malls shut. “The sooner they take a call and heed our requests, the better it will be for everyone in the ecosystem, not just the developers,” he said.

SCAI members said that the solution lies in reopening the shopping malls as soon as possible. Kunil said vaccination is a major solution. “We hope to be back to 90% of footfall by October,” he said.

Comments

Ramesh Mishra
 - 
Friday, 25 Jun 2021

THE GLOBAL ECONOMY DURING AND AFTER COVID-19, PANDEMIC
The disciplined, law-abiding and skilled nations would reestablish the economy expediently than undisciplined, lawless and unskilled countries. Covid-19, the pandemic has crumbled the global economy putting India 50 years behind. Indian leaders were irresponsible in handling the Covid-19, pandemic, due to their Godly attitude and for the lack of respect for the Rule of Law causing massive death during the Covid-19, pandemic. India is now doomed.
Ramesh Mishra
Victoria, BC, CANADA

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 17,2025

abubakaraccident.jpg

Mangaluru, Jan 17: A heart-wrenching accident at Nadupadavu near Kattukodi on the outskirts of the city claimed the life of a young scooter rider this morning. 

The victim, identified as Abubakar Siddiq Razwi (22), son of Moydeen Kunji Bavu and a resident of Nadupadavu, tragically succumbed to his injuries on the spot.

The accident occurred when a scooter traveling from Deralakatte collided with an Ace Tempo heading from Mudipu to Thokkottu.

Abubakar, a final-year student at an Arabic Shariah College in Kasargod, leaves behind a community in mourning. The tempo driver also sustained injuries in the collision.

The Mangaluru South Traffic Police have registered a case and are conducting an investigation into the incident.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 13,2025

losangeles.jpg

Los Angeles wildfires have continued their trail of devastation, razing death tolls to 24 and destroying thousands of structures, while intensifying winds are worsening the situation for both civilians and firefighters.

In an update on Sunday evening, the County of Los Angeles Department of Medical Examiner said a total of 24 people have died due to the wildfires.

According to the examiner, this number is only an estimate as hundreds of people in various parts of the county are still missing.

Weather forecasters in California are also warning fierce winds which fuelled the infernos around Los Angeles are expected to pick up again this week.

The notoriously dry Santa Ana winds would pick up again from Sunday night until Wednesday, reaching speeds of up to 96km/h, they said.

The most dangerous day will be Tuesday, said weather service meteorologist Rich Thompson. “You are going to have really strong gusty Santa Ana winds, a very dry atmosphere and still very dry brush, so we still have some very critical fire weather conditions out there,” he added.

On Saturday, the flames spread east, creeping closer to Interstate 405 and a busy mountain pass. This is a “significant development,” said L.A. County spokesman Jesus Ruiz.

With the fire rapidly growing and moving in the direction of “a heavily populated area … we are definitely concerned,” he continued.

Gavin Newsom, governor of California said that he believes that in terms of costs associated with the wildfire, it will be the worst natural disaster in terms scale and scope in the history of the US, and the fatalities is likely to increase significantly as well.

On Sunday, private forecaster Accuweather increased its preliminary estimate of financial losses from the blazes to between $250 billion to $275 billion. The wildfires are on track to be among the costliest in US history.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 24,2025

Bengaluru, Jan 24: The BJP has sparked controversy by opposing a meeting between Muslim community leaders and Karnataka Chief Minister Siddaramaiah, where increased budgetary allocations for minorities were discussed. The BJP labeled the demands as "religion-based budgeting," accusing the Congress-led government of minority appeasement.

Amit Malviya, head of the BJP’s National Information and Technology Department, claimed on social media platform X, “This kind of Muslim assertion and religion-based demands led to India’s partition along religious lines in 1947. We can’t afford it again.”

The meeting, attended by Ministers Rahim Khan, Zameer Ahmed Khan, and Siddaramaiah's Political Secretary Naseer Ahmed, focused on enhanced funding for minority welfare. Malviya criticized it as a "brazen display of minority appeasement," alleging that the Congress was catering to its vote bank in return for support.

The Congress government allocated Rs 3,000 crore for minority welfare in its 2024-25 State Budget, drawing fire from opposition parties. However, Deputy Chief Minister D.K. Shivakumar defended the allocation, stating, “In a Rs 3.71 lakh crore budget, can’t we allocate even 1 per cent for Muslims? This funding supports schools and development programs. What’s wrong with that?”

Meanwhile, BJP and JD(S) leaders accused the Congress government of sidelining Hindus while failing to address pressing issues like rising crime and fiscal mismanagement. Karnataka Leader of the Opposition R. Ashoka criticized the government for planning to borrow Rs 1 lakh crore to fund its "five guarantee" schemes and other initiatives, questioning the state's development progress.

Chief Minister Siddaramaiah is set to present the 2025-26 State Budget in March, which is expected to cross Rs 4 lakh crore, marking his 16th budget as Finance Minister. The Congress government faces growing opposition from BJP leaders, who claim its policies prioritize appeasement over governance.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.