Govt explores financial assistance package for SMEs

ISLAMABAD, May 07 (APP):Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh Thursday chaired a meeting, which deliberated on the contours of a financial assistance package for the Small and Medium enterprises in the wake of the Corona Virus pandemic.

Minister for Industries, Hammad Azhar and Country Director World Bank also participated in the meeting, according to press statement issued by the Finance Ministry.

The assistance package would explore the possibilities of supporting the small and medium sized enterprises, formal or informal, which are employing 5 to 30 people but have suffered losses due to the recent lockdown.

The ways and means to support the firms to continue their production and to enable them to pay their fixed costs and support their workers were discussed in detail.

The Adviser said that the focus of the scheme should be that the workers attached with these small businesses should not be laid off from their work because of the un-sustainability of the business.

Provision of basic IT related skills to the smaller businesses was also discussed, such skills/ expertise would help the workers as well as the businesses to continue their entrepreneurship in the odd and difficult times.
It was also agreed that the cooperation of SMEDA and Punjab IT Board would be sought to make the package implementable.