COVID-19: SCCI demands relief package for KP SMEs

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PESHAWAR: Hailing the financial relief package announced by the premier to save businesses from the coronavirus impact, the business community in Khyber Pakhtunkhwa on Wednesday demanded the same for small and medium enterprises (SMEs) of the province.

The demand came from Sarhad Chamber of Commerce and Industry President Engr Maqsood Anwar Pervaiz who was addressing small industrialists and traders through video link from the chamber house.

The meeting participants largely welcomed the PM’s economic relief package and sought from the government to ensure trickle down positive impact of this package on poor masses and revival of ailing economic and industrial growth.

The SCCI chief said small industries and businesses had been shut down as they were facing immense financial losses amid the virus outbreak in the province.

He demanded the government to include SMEs in the recently announced economic relief package in order to avoid them from further loss.

Terming 1.5 per cent reduction in interest rates insufficient to mitigate the sufferings of businessmen and investors, Pervaiz called to bring it down to a single digit in the upcoming fiscal budget 2020-21.

He also demanded  two weeks extension in payment of electricity and gas bills of small industries as well as deferment of loans of commercial institutions worth billions of rupees,

Pervaiz also called for a reduction in taxes, especially for small and medium industries and businesses.

The SCCI president furthermore urged the government and the State Bank of Pakistan to reschedule loans, which had disbursed among different business and commercial institutions.

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