ICCI welcomes 75 billion relief package for small businesses
- April 27, 2020
The Islamabad Chamber of Commerce and Industry has welcomed
the relief package of Rs.75 billion announced by Federal Minister for Industries Mr.
Muhammad Hammad Azhar for small businesses and termed it a very positive step that
would provide crucial relief to these businesses in these difficult times when they were
struggling for survival due to Covid-19 impact.
Muhammad Ahmed Waheed, President, Islamabad Chamber of Commerce & Industry
said that relief package would benefit around 3.5 million small businesses affected by
the lockdowns caused by Covid-19 and would help them in reviving business activities.
He said that government has also announced to give relief to businesses in payment of
electricity bills, which was very encouraging decision as businesses with 5KW
connections and industries with 70KW connections will not have to pay their bills for the
months of May, June and July 2020. He said this will reportedly help 95% commercial
connections and 80% industrial connections.
ICCI President said that government has announced to provide another financial aid
package to businesses in the next phase and stressed that government should finalize it
in consultation with all stakeholders. He stressed that government should also further
bring down the key policy rate and sales tax to at least 5 percent that would provide
significant relief to businesses and help them in early revival of business activities. It
would cut down cost of doing business, accelerate the pace of trade and industrial
activities and reduce inflation providing great relief to the common man as well.