KATI urges SBP for interest free loans for payment of salaries

Karachi, April 16, 2020: Patron in Chief SM Muneer and President of Korangi Association of Trade & Industry(KATI) Sheikh Umer Rehan has welcomed the decisions of Federal and Sindh government regarding resumption of Industrial and business activities during extended lockdown due to preemptive measures for Covid-19 pandemic.

SM Muneer said that we fully support the measures and strategy guided by PM Imran Khan not only apprehend the medical challenges of the situation he also focused the potential economic disaters of this pandemic since the beginning.

He also lauded the incentive package announced by State Bank of Pakistan to facilitate salaries and wages of industrial workers. “ However to make these incentive more effective this repayment facility should be interest free and minimum duration for the repayments should be extended to four years” he added.

President Sheikh Umer Rehan said that federal and provincial government has taken the timely decision of resuming industrial and business community and the community welcomed it. He said that during these troubled time continuation of industry and paying the workers their salary and wages should be consider a national service and government should facilitate us to perform this duty.

He also noted that cash flow in markets is nearly zero and this circulation is the measure resource of a part of our population. He suggested that wholesale markets of food items and industrial raw materials should be open to maintain circulation of money which is essential to provide employment.

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