SBP, FBR directed to provide SMEs’ data to Finance Ministry

ISLAMABAD: In a bid to provide some breathing space to small industries which have been largely affected by the lockdown, the Finance Ministry has directed the State Bank of Pakistan and the Federal Board of Revenue (FBR) to furnish data of small and medium enterprises (SMEs), a local newspaper reported.  

READ MORE: But what if the virus doesn’t go away?

The Prime Minister Imran Khan-led government approved Rs100 billion as deferred payment for SMEs and agriculture sector loans and concessional loans, to make sure the cost of their input does not increase during the current crisis. 

It is pertinent to mention here that the daily wagers and SME sector have been the worst hit during the crisis.

The Finance Ministry has had the scattered date of SMEs and sought the FBR and SBP’s help to ensure that economic relief is provided to them. 

 

Monitoring Desk
Monitoring Desk
Our monitoring team diligently searches the vast expanse of the web to carefully handpick and distill top-tier business and economic news stories and articles, presenting them to you in a concise and informative manner.

1 COMMENT

  1. Dear / Madam AoA
    Im M.D CCIC
    Project Name : Capital Cottage Industrial Corporation, Hyderabad
    Location: Survey No. 203 near Nareja Workshop, Deh Bora Rayati, Taulka Latifabad near Zeal Pak Cement, Tando Muhammad Khan Road, Hyderabad….
    Services: To be provided to investors for setting up small cottage industries.

    * Acquired 23 acres of land from Government of Sindh for 70 plots for different units having 1000 sq. yard each.

    * Account established at Al Barka Bank and Dubai Islamic Bank in title of Captial Cottage Industrial Corporation.

    Capital Cottage Industrial Corporation (CCIC) was formed in 2001 and has been registered with the Federal Board of Revenue having NTN 1437059-0. CCIC is first ever initiative in private sector for improving the economy through the development of cottage sector in Hyderabad by bringing cottage sector at one centralized location. The said activity will gear up economic activity in the area which in turn create around 20,000 additional job opportunities for the local youth and will contribute to national economy. The model will also help other regions to make same initiatives.
    Hyderabad in second largest city of Province Sindh and fifth largest city of Pakistan. The city has geographical importance for trade and export due to nearness of Karachi and seaports of Karachi and Gawader. The city possess historical importance for its agriculture products and export specially for mango and other manufactured products. The city is Largest Bangle Producer in the World. Now is emerging in the light of engineering sector with establishment of 17 motorcycle, rakshaw, Chungchi, tractor and four-wheel assembling units. Export of said products are increasing and creating opportunity for the cottage industry to develop. The initiative at current scenario by the private sector for the establishing of interlinked cottage industry and development of existing units will help to contribute to national economy by creating employment opportunities and through the contribution of Local and domestic investment and foreign reserve. The city also serves as a transit between rural and urban Sindh. Hyderabad city and surrounding areas are very much rich with raw material and agricultural produce including millet, rice, wheat, cotton, and fruit.
    Economic Environment
    * To develop a favorable environment for cottage industry and facilitate them to form a cluster at one platform of cottage industry cluster by interlinking different units for producing same finished goods/products.

    * To improve the economy of Hyderabad and create job opportunities.

    * To establish new cottage industries with advanced technology in the sectors of shuttle less looms, Handlooms, power looms, weaving, warping, sizing unit textile spinning units, open end unit, garments and leather, hosiery goods, glass products, marble, wooden furniture, auto and allied engineering, artificial jewelry, chemical and pharmaceuticals products, plastic, paper mills, soap factories, steel products, crockery, petroleum and rubber products, beverages and dairy products, confectionaries, electric and electronic products, mobile phone, Agro-base product accessories etc.

    * To provide job opportunities to the skilled youth

    * To promote entrepreneurs with special focus on women entrepreneurs

    * To boost economy and improve export.

    * To attract foreign and domestic investments

    * To motivate and appreciate overseas Pakistanis to invest.

    * To oblige industrialists, business community and investors to comeback their investments to Pakistan.

Comments are closed.

Must Read

Cabinet likely to give nod to 80km section of Iran-Pakistan Pipeline...

The IP Gas Pipeline has faced decades worth of delays because of persisting geo-political realities and concerns