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March 28, 2020

Loan rescheduling demanded

Business

March 28, 2020

LAHORE: Pakistan Poultry Association former chairman Abdul Basit has said that the government would have to take measures, including rescheduling of loans both principle and markup for three years to ensure sustainability of the poultry sector, a statement said on Friday.

Moreover, fresh loans for working capital should be provided for working capital needs, he added. The working capital of the sector has been wiped out during the present crisis. Basit also demanded to defer payment of electricity bills for three months and waiver of late payment charges.

WAPDA should be directed not to disconnect connections on non-payment of bills, he said, and demanded provision of worker support grants to companies so that salaries of the workers could be paid.

In addition, he urged the government to arrange freighter flights with the help of local airlines to maintain exports with 50 percent subsidy on export freight. Export rebate to the food industry, which cannot claim duty drawback should be fixed at 20 percent. Lastly, Basit urged the government to waive all taxes and duties on import of raw materials, chemical ingredients and machinery for the production of poultry products and all food items.