‘SMEs Rozgar Scheme launched to limit impact of Covid-19’

MULTAN: State Bank of Pakistan Governor Reza Baqir has said that the SMEs Rozgar Scheme is launched to limit the adverse impact of Covid-19 on businesses and employment in terms of payment of wages and salaries to the employees.

He said this while talking to Multan Chamber Of Commerce and Industry president Mian Fazal Elahi Sheikh here on Monday. Reza Baqir said that the Refinance Scheme was launched as a risk-sharing initiative to facilitate small and medium enterprises (SMEs) during the ongoing difficult times and minimise the negative impact on numerous businesses caused by the outbreak of the coronavirus pandemic.

The SBP governor remarked that though the financing availed by businesses was encouraging so far, the SBP was cognizant of the fact that the SMEs were facing difficulties in availing this facility from the banks for various reasons. He was of the opinion that meetings via video link with the business and industrial community of Pakistan should be held regularly on a monthly basis so that the SBP could better understand the business community’s requirements and accordingly devise strategies.

The SBP conducted the awareness campaign because lack of awareness on the part of the SMEs was found as a key reason due to which the SMEs could not avail financing facilities available under the SBP SME Finance Policy or SBP’s subsidised refinance facilities, he added.

In order to improve awareness, banks had already been urged to provide details of such facilities to the SMEs in their areas, he informed. The SBP governor on the proposal of the MCCI president agreed to set up a help desk in the MCCI.

SBP Multan Chief Manager Waqas Kashif Bajwa and Assistant Chief Manager Imran Sadaf were nominated as focal persons of the help desk while Executive Director Development Finance Group Syed Samar Hasnain and Banking Services Corporation Managing Director Muhammad Ashraf Khan would monitor the performance of the desk. The help desk would facilitate the business community to have access to the State Bank of Pakistan governor. The members of the Multan Chamber and the business community could send their complaints and proposals easily. They could also contact on cell number 0346-7141179 (Assistant Chief Manager Imran Sadaf). The meeting was also attended by SVP Mian Rashid Iqbal, Mian Nadeem Ahmed Sheikh, Khawaja Muhammad Yousaf, Syed Iftikhar Ali Shah, Muhammad Shafiq, Khawaja Mansoor and Nadeem Ahmed.

PHA employees directed to ensure 100PC recovery: Director Administration and Finance, Parks and Horticulture Authority, Robina Kosar directed marketing department to ensure 100 percent recovery target. Presiding over a meeting to review performance of marketing department regarding recovery target here on Monday, Robina said PHA faced problems in recovery due to lockdown, however, operation has been speed up after relaxation in lockdown. —APP