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April 3, 2020

Govt urged to provide maximum relief to destitute individuals, families

Islamabad

April 3, 2020

Islamabad : Sardar Ameer Jehanzeb, a senior member of Islamabad Chamber of Commerce and Industry (ICCI) and CEO of System Software Solutions addressing a business forum expressed his deep concern over the merger economic package declared by the government to deal with the challenges caused by the Corvid-19.

The government must take additional measures to provide maximum relief to the destitute individuals and families struck in this pandemic and the citizens of the country at large, he demanded.

Although he had appreciated PM’s inducements for the exporters, but there is dire demand to safe guard the interest and extend the same benefits to the small and medium enterprises (SMEs) which are heavily affected by this contagion. He had further emphasized, that the prices of the petroleum products should be reduced to Rs65 to 70 per litre, as the oil prices has come down less than $23 per barrel in the international market. This would provide great relief to the afflicted society. The current relief is not enough keeping in view the graveness of the calamity.

He had suggested that the government either waive off the utility bills for local business concerns or adjust the gas and electricity bills in easy instalments in consultation with the business community , otherwise it would ultimately add up to their financial encumbrance.

Further it is proposed that Govt. should extend incentives to the SMEs sector. The small industries and traders are shutting their businesses in all the provinces and are facing massive financial losses after the outbreak of this pandemic. The urge to include SMEs in the relief package is entirely justified. The government and the State Bank of Pakistan need to reschedule loans disbursed to different business and commercial institutions besides bringing down the interest rate at-least 03% from the current mark-up.