FORCE MAJEURE SHOULD BE DECLARED FOR CLOSED BUSINESSES

Eskişehir Chamber of Commerce President Metin Güler emphasized that force majeure should be declared for businesses that have been temporarily closed or restricted due to COVID-19 measures.

President Güler made an evaluation regarding the necessary support for businesses affected by COVID-19 restrictions. He noted that many countries worldwide have implemented measures and restrictions in areas such as food and beverage, entertainment, and sports. Güler stated, "We are going through an extraordinary period due to the COVID-19 pandemic. Extraordinary situations require extraordinary measures. Restrictions and closures have been imposed in many sectors outside of essential needs in various countries due to the pandemic threat. However, we believe that exceptional measures should be taken to keep the wheels of the economy turning, and force majeure should be declared for businesses that have been closed or restricted due to the pandemic."

Public debts should be deferred

Güler highlighted that businesses forced to close or restrict operations still have obligations. "Thousands of our members have had their businesses closed due to the pandemic, yet their obligations stemming from trade continue. Despite being closed, our members are still expected to pay rent and withholding taxes and fulfill other business-related responsibilities. These members, whose cash flow has been disrupted and whose businesses have come to a standstill, cannot continue without state support. Immediate action must be taken to defer public debts to 2021-2022 for businesses in this situation," Güler said.

Traders cannot bear the burden of new loans

Güler noted that the Chamber is in constant contact with its members in the service sector, whose operations have been temporarily halted or restricted. "Over 2,000 of our members have had their activities temporarily suspended or restricted as part of the measures taken. We are in ongoing discussions with these members and the relevant professional committees. Our members, whose businesses have been closed or restricted, are not only struggling to take on new loans but are also finding it difficult to repay their existing loans. Rather than credit, businesses affected by the pandemic need non-repayable financial support. We believe that this period can only be overcome with direct cash support, not cheap credit," Güler concluded.