Govt urged to provide financial relief to business community
KARACHI: Ateeq Ur Rehman, Economic & Financial Analyst has urged the government to come forward to give financial relief to business community specially small businesses, SMEs, small traders, retailers/ sellers and industries by announcing grants and a debt moratorium on bank's loans, deferring principle amount at least for 1 year and waiving of the interest.
SBP is requested to announce economic refinancing schemes on very easy terms like nominal interest rate and long term. Banks should relax their terms and conditions on consumer financing minimum for 1 year as most of the cars in car financing has drowned and the houses has been badly damaged.
He said that FBR and SRB should consider a tax relief for minimum 6 months for Karachites specially on Import of Raw Material and Capital Goods enabling to immediately start the production process. Relax on Income tax and Sales Tax should be allowed, therein.
He further said that it is so cruel that instead of announcing relief package ECC announced and increased Rs1.09 per unit by KE.
KE should however consider to reduce the Industrial / Commercial tariffs minimum for 3 months.
The untold miseries of Karachites are unbelievable. For minimum 3 to 4 days crazy rain played havoc with Karachites, thunder roared with utmost volume for hours together frightening everyone and gusty winds blowing everything.
Massive devastation with urban flooding paralysed all segments of life it was not only the question of rescuing thousands of people but it was necessary to save their lives by supplying them food with fresh water said Ateeq Ur Rehman.
He said that Alamgir Welfare Intl, JDC, ALKHIDMAT, Saylani, Edhi, Chipa and various other NGOs did outstanding job even endangering their lives to serve the fellow Karachites during the calamity and post copious rainfall trauma. We salute them.
He added that Karachi which contributes annually around Rs2400 billion to national exchequer lost almost Rs70 billion during the disaster.
Karachities need help by authorities to survive and overcome the prevailing dilapidated conditions.
Copyright Business Recorder, 2020
Comments
Comments are closed for this article.