Govt to support small and medium enterprises: Abdul Razak Dawood


ISLAMABAD: Adviser to the Prime Minister on Commerce, Textile, Industry and Investment Abdul Razak Dawood said on Sunday that the government was finalising a scheme to support small and medium enterprises (SMEs) across all sectors.

“It is our endeavour to help small businesses as compared to larger ones because of their weaker financial position,” Mr Dawood said in a Twitter posting.

Adviser to the PM on Finance Dr Abdul Hafeez Shaikh has already said that Rs100 billion had been allocated for supporting SMEs and the agriculture sector as part of the government’s relief package of Rs1.2 trillion to deal with the impact of Covid-19 on economy.

Salient features of the plan would include concessional loans to SMEs and the agriculture sector. SMEs, industry and agriculture will see deferment of loans — both principal and interest. The government will also provide risk guarantee to banks for fresh loans to SMEs, according to a tweet by Minister for Industries and Production Hammad Azhar.

SMEs, being one of the largest and the most important sectors of economy, play a key role in shaping national growth strategies, employment generation and social cohesion by improving standard of living of vulnerable segments of society. In most countries, SMEs constitute more than 90 per cent of all enterprises and significantly contribute towards inclusive economic growth.

You May Also Like


23 ppl killed in Mississippi tornado

WASHINGTON: At least 23 people were killed as a devastating tornado ripped across the southern US state of Mississippi


I have to do to defend democratic nature of my country: Rahul Gandhi

NEW DELHI: Top Indian opposition figure Rahul Gandhi said Saturday he would keep fighting for democracy


Nadia Kahf took oath on Quran in USA

WASHINGTON: Nadia Kahf made history when she took oath in New Jersey this week as the first judge