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ICCI President welcomes government plan to support SMEs sector

ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) President Muhammad Ahmed Waheed has hailed the government decision to evolve comprehensive strategy plan for supporting the Small and Medium Enterprises (SMEs) in current situation of the epidemic.
In a statement, Waheed appreciated the Adviser to Prime Minister Abdul Razak Dawood,s statement for announcing a comprehensive plan to give  the relief to the COVID-19-hit small medium enterprises (SMEs).
He said the SMEs were the backbone of national economy and the government should provide them an ease on priority basis.
The ICCI President said the State bank of Pakistan had increased the regulatory limit on extension of credit for the SMEs that were a good initiative.
Many SMEs had obtained loans from banks for expansion and new investment and their repayment along with mark-up should be deferred for three to six months, he added.
He also urged for transparent transfer of public funds to SME’s sector are facing severe liquidity problem mostly in the current scenario of COVID-19 Lockdown.
Ahmed Waheed stressed for announcing separate bailout package for SME sector including freezing their payment against markup on loans and taking other severe measures in this regard.
On Sunday, Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood has said the government was finalizing a scheme to support Small and Medium Enterprises (SMEs) across all the sectors which would be announced shortly.
On a social media website Twitter, the adviser wrote, “It is our endeavor to help small businesses as compared to larger ones because of their weaker financial position.”
Razak Dawood further wrote, the government was committed to resolves all the major issues of small business to provide them better business environment in current challenging situation of COID-19 pandemic.



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