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Govt making efforts to control economic losses: Razak Dawood

Govt making efforts to control economic losses: Razak Dawood

FAISALABAD : Adviser to Prime Minister on Commerce, Textile and Investment Abdul Razak Dawood has said that the government is making efforts to control the economic losses incurred by fragile national economy in the wake of coronavirus lockdown.

Talking to office-bearers of Faisalabad Chamber of Commerce & Industry (FCCI) through video-link, he discussed in detail the problems being confronted by the business community and impediments ito speedy disbursement of electricity bills and payment of salaries and wages of the employees under SBP refinance scheme.

He said that the SBP had issued a circular regarding refinance scheme for the payment of wages and salaries to the Small and medium-sized enterprises (SMEs) units who would not lay off their workers during lockdown.

He said that this circular was issued on April 5, 2020 but it has some discrepancy due to which various sectors could not avail this facility.

He asked the FCCI president to propose necessary amendments to the circular so that maximum sectors could avail the scheme benefits.

About the appointment of honorary commercial counselors to uncovered countries which have huge potential for Pakistani export, the adviser agreed in principal and asked the FCCI president to nominate country-wise exporters who could be appointed as honorary counselors.

Regarding payment of three month electricity bills, Razak Dawood said that he would discuss the issue with the relevant quarters.

Earlier, FCCI President Rana Sikandar Azam Khan said that the government had announced a scheme to pay the electricity bills of three months for the SMEs sector. He lamented that instead of facilitating the disturbed industrial and commercial units, Fesco had not only added late surcharge in their bills but their connections were also being severed. Among these units include textile and printing sector, sizing and power looms, etc.

During the video-link conference, Vice President Bilal Waheed Sheikh, Rana Ikramullah, Saeed Iqbal, and Engineer Babar Shahzad were also present.