Economic Coordination Committee nods over Rs50bn package for SMEs

Economic Coordination Committee nods over Rs50bn package for SMEs (small and medium size enterprises).

The ECC approved this package worth 50.69 billion rupees to provide indirect cash flow support to the small and medium size enterprises through pre-paid electricity.

Economic Coordination Committee nods

Prime Minister’s Adviser on Finance Dr Abdul Hafeez Shaikh presided over the ECC meeting in Islamabad on Monday.

It also approved a credit loss subsidy of 30 billion rupees for the Risk Sharing Facility to support employment and prevent lay-off of workers.

ECC’s 50.69 billion rupees package titled as ‘ChotaKarobar o Sannat Imadadi Package’ would provide financial supportto SMEs.

It would support approximately 95 per cent commercial consumers with connected load up to five kilowatt and 72 per cent of industrial consumers with connected load of up to 70 KW.

Meanwhile, the committee also approved allocation of additional funds of over three billion rupees for fencing of Pak-Iran border.

Earlier, govt allocated Rs75bn to provide relief to labourers and daily wagers who have lost their jobs due to coronavirus.

Minister for Industries and Production Hammad Azhar announced this, while addressing a news conference in Islamabad on Monday.

He said the government would provide relief to labourers and daily wagers, who have lost their jobs due to coronavirus.

GTV