A-PM-FR Shaikh deliberates on a package for SMEs

By Staff Reporter
Friday – May 8, 2020
ISLAMABAD: The advisor to the prime minister on finance and revenue (A-PM-FR) Abdul Hafeez Shaikh chaired a meeting, Thursday, to deliberate on the contours of a financial assistance package for the small and medium enterprises (SMEs) in the wake of the coronavirus (COVID-19) pandemic.

According to an official statement, the assistance package will explore the possibilities of supporting the SMEs, formal or informal, which are employing five 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 was discussed in detail.

A-PM-FR Shaikh 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 information technology (IT) related skills to the smaller businesses was also discussed, such skills/expertise will 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 small and medium enterprise development authority (SMEDA) and Punjab IT board will be sought to make the package implementable.

The minister for industries and world bank (WB) country director also participated in the meeting.