Bhubaneswar: With medical shops across the state requesting for more credit
limit following demonetisation, Centre’s November 8 decision to scrap `1,000 and `500 notes has led to fears of job loss among medical representatives.
Most of the medical representatives are struggling to meet their monthly targets and are worried about pending bills from chemist shops. Although, some of them have increased the credit limit of major customers, the current financial scenario has compelled a large number of them to increase credit limit of even small chemist shops in the rural region to achieve monthly targets.
“We are worried since the situation would compel companies to reduce the work force. We are also concerned about the pending bills from chemist shops,” said PK Samal, state committee member of Orissa Sales Representatives’ (Medical) Union (OSRU).
Although, the prime minister requested the nation to go for cashless economy, the sudden decision of demonetisation has affected even transactions in the medical sector.
“Currently, less than 20 per cent medical shops across the state accept payments through cards. A majority of shops accept only cash and have been forced to give credit to their regular customers. Subsequently we are forced to increase their credit limit. However, any further delay in normalisation will affect the market,” added Samal.
India’s pharmaceutical market is the third largest in terms of volume and thirteen largest in terms of value in the world. But the sector is now struggling to cope up with demonetisation and call for cashless economy.
“We have small and big clients, and we have to do business with them. Some of them have requested for more time to pay bills and we are still giving them stocks on credit. But, we have pressure from the companies to clear those pending bills and this financial fiasco is because of demonetisation. So we request the government to take immediate measures to tackle the situation,” said Sisir Kumar Tripathy, district committee secretary of OSRU.
Post News Network
