AVN 64.76 No Change ▼ 0.00 (0%)
BAFL 31.49 Increased By ▲ 0.31 (0.99%)
BOP 4.79 Decreased By ▼ -0.03 (-0.62%)
CNERGY 3.85 No Change ▼ 0.00 (0%)
DFML 14.48 Increased By ▲ 0.48 (3.43%)
DGKC 41.65 No Change ▼ 0.00 (0%)
EPCL 46.81 Increased By ▲ 0.51 (1.1%)
FCCL 11.33 Decreased By ▼ -0.07 (-0.61%)
FFL 5.06 No Change ▼ 0.00 (0%)
FLYNG 5.82 Increased By ▲ 0.02 (0.34%)
GGL 10.46 Increased By ▲ 0.55 (5.55%)
HUBC 65.54 Increased By ▲ 1.34 (2.09%)
HUMNL 5.61 No Change ▼ 0.00 (0%)
KAPCO 27.73 Decreased By ▼ -0.09 (-0.32%)
KEL 2.16 Increased By ▲ 0.01 (0.47%)
LOTCHEM 24.40 Decreased By ▼ -0.10 (-0.41%)
MLCF 21.51 Decreased By ▼ -0.34 (-1.56%)
NETSOL 84.61 Increased By ▲ 0.31 (0.37%)
OGDC 87.02 Decreased By ▼ -0.09 (-0.1%)
PAEL 11.00 Increased By ▲ 0.05 (0.46%)
PIBTL 4.19 Decreased By ▼ -0.04 (-0.95%)
PPL 75.35 Decreased By ▼ -1.43 (-1.86%)
PRL 13.60 Decreased By ▼ -0.13 (-0.95%)
SILK 0.89 Decreased By ▼ -0.03 (-3.26%)
SNGP 41.27 Decreased By ▼ -0.33 (-0.79%)
TELE 5.84 Decreased By ▼ -0.11 (-1.85%)
TPLP 15.62 Increased By ▲ 0.01 (0.06%)
TRG 111.84 Increased By ▲ 0.59 (0.53%)
UNITY 13.97 Increased By ▲ 0.13 (0.94%)
WTL 1.17 Increased By ▲ 0.03 (2.63%)
BR100 4,064 Increased By 18.2 (0.45%)
BR30 14,468 Increased By 34.8 (0.24%)
KSE100 40,734 Increased By 113.6 (0.28%)
KSE30 15,230 Increased By 59.4 (0.39%)
Follow us

KARACHI: Economic & Financial Analyst, Ateeq Ur Rehman has said that the drafted scheme titled “Re-Finance and Credit Guarantee Scheme for Collateral Free lending to SMEs will certainly facilitate the small segment of the business.

SBP is likely to provide collateral free refinancing of Rs60 billion to SMEs through banking sector of Pakistan which is approved by Economic Coordination Committee of the Cabinet is a breathtaking news and demand of the day and will have significant positive effect on overcoming difficult and challenging times of small businesses, small traders, vendors and SMEs, he said.

The small businesses, small traders, vendors and SMEs of Pakistan are facing extreme financial hardships and have become weaker segment of the society due to unbearable electricity tariffs, un-necessary, continuous notices by FBR and additional taxes / import duties / custom duties on raw material when the businesses are already trembling due to Covid-19. Also, there is Economic meltdown due to complete or partial lockdowns in Businesses.

He added that running a business under such circumstances has become a Herculean task and daunting challenge for them. How can economy move and sustain its growth with such untoward situation for the businesses, Ateeq asked?

Ateeq said that the upcoming budget should consider incentives and priorities of the small businesses and SMEs as a whole.

When the lending countries can grant moratorium to the developing and poor nations, why not the government announces a moratorium for small businesses if they are under debt due to dilapidated circumstances. The 4 percent anticipated growth of GDP is only possible once the considerations are favourable for the small businesses of the country, also.

Copyright Business Recorder, 2021

Comments

Comments are closed.

Small businesses, SMEs: Collateral-free lending to have positive effect: analyst

PM Shehbaz invites Imran Khan to all parties conference

Dar gives go-ahead to Saylani, other charities to help raise $2bn from overseas Pakistanis

New historic low: rupee settles at 271.36 against US dollar

Country can excel at nuclear power generation: PM Shehbaz

Pakistan expects 'sincere cooperation' from Afghan interim govt to address terrorism: FO

US transfers Pakistani Guantanamo Bay detainee to Belize

At least 17 killed as oil tanker collides with passenger coach near Kohat tunnel

Pakistan’s textile exports significantly decline in January: APTMA

Murad Saeed announces protest against rising terrorism in KP

Local court sends Sheikh Rashid on two-day physical remand