The government has started working on a policy to support small and medium enterprises (SMEs), retail outlets and the labor force during the coronavirus crisis.
This was revealed by the Adviser to Prime Minister on Commerce and Textile Abdul Razak Dawood, as he took to Twitter to announce it.
I know there is a lot of concern that the big exporters are getting all the focus, this is far from the truth. The bulk of the support will go to the SME, retail outlets and the labor force. I want everyone to be a little patient that in the coming days, a policy will be announced on this subject. In designing the policy, I’m looking at what other countries, like Canada and Bangladesh, have done.
I want everyone to be a little patient that in the coming days a policy will be announced on this subject.
In designing the policy, I’m looking at what other countries, like Canada and Bangladesh have done.
2/2 @ansukhera @pid_gov @PTVNewsOfficial @aliya_hamza @ImranKhanPTI
— Abdul Razak Dawood (@razak_dawood) April 7, 2020
The Finance Ministry has started the process of gathering data of small and medium enterprises (SMEs) from different sources to provide relief as part of the government’s economic relief package, according to a senior official of the ministry.
The ministry has requested the SBP and the FBR to provide data as it is already quite late. The government has announced the approval of Rs. 100 billion as deferred payment of SME and agriculture sector loans.
The adviser further added that he wanted to ensure that in order to protect the labor force, all payments being made to the exporters and business people, some mechanism of control is being worked out as to how to safeguard the interest of the workers.
“Rest assured it’s very much on the cards and that too will be unfolded shortly,” he added.