SBP to provide cheap loans to industrialists who will not lay off employees: PM

Prime Minister Imran Khan has announced that the State Bank of Pakistan (SBP) has decided to provide cheap loans to the industries who would not be laying off their employees.

In his address to the nation, the Prime Minister said the world is fighting against the coronavirus according to their capacity. He said the only country that has remained successful so far in this struggle is China that put 20 million people under lockdown to overcome the killer bug. He said if Pakistan had similar situation like China, he could have shut down the whole cities. However, twenty five percent of our population lives under the poverty line and additional twenty percent is on the borderline. 

Imran Khan said no lockdown can be successful if people become unemployed and have nothing to eat. He said corona virus does not distinguish between rich and poor and everyone will have to play their role in its success. The prime minister said we have to fight this war with wisdom and sagacity.

Imran Khan said our biggest strength is faith which has made Pakistan one of the most charitable nations in the world.  The Prime Minister said youth are our second strength that can build the future of the nation. Imran Khan announced establishment of Corona Relief Tiger Force that will work in collaboration with civil administration and army to contain the spread of coronavirus.  

He said in a week’s time situation will be clear regarding the spread of virus. The prime minister said the volunteers of Tiger Force will help deliver food to areas under lock down, besides disseminating awareness to the public. The prime minister said people must be clear that the corona virus is more dangerous to elderly people and persons with underlying health conditions and it is not a social stigma.

The prime minister also announced Corona Relief Fund at National Bank of Pakistan where charitable contributions can be made. The contributions will also be tax free and tax incentives will be given to tax filing persons. The account number is 4162 786 786.

Imran Khan said Pakistan’s relief package is around 8 billion dollars which can be further enhanced depending on needs. Imran Khan said Facebook page of Ehsaas programme will give details about the areas where people are in most need, so that people can make decisions to give charity based on transparent information.

The prime minister warned that strict action will be taken against the hoarders and profiteers, and they will be given an exemplary punishment, besides holding them responsible for the misery of people.