Staff Reporter
Lahore
Business and industrial community appreciating another fresh move of the State Bank of Pakistan (SBP) to reduce interest rate by another one per cent and urged the government to further slash it down to 5 percent offset gradually the negative impact of coronavirus.
The Business and industrial community on Friday also urged the government to announce another incentive package for the revival of small and medium sized Industry which was playing a vital role in national economy building employment generation.
SAARC Chamber of Commerce and Industry (CCI) President designate Iftikhar Ali Malik urged the State Bank to further cut policy rate for easy access to finance for the local industry and exporters who were confronting new challenges and uncertain conditions.
Iftikhar Malik also urged for the payment of sales tax and income tax pending refund of the value-added sector demanded and rebate, waiver of mark-up in export refinancing and relaxation in loan repayments.
He also urged the need of deferment of payment of utility bills and waiver of surcharges for at least next three years, restoration of zero-rated sales tax regime and exemption from welfare fund contributions.
The President SAARC CCI said that the government’s resolve to contain the spread of virus was commendable and foreign industries were now considering relocating to Pakistan due to it.
