Sialkot
Faisal Khawer Butt
The President, Sialkot Chamber of Commerce and Industry, Muhammad Ashraf Malik, has lauded the announcement of a cut in the interest rate by 1 percent to 8 % by the State Bank of Pakistan, which was welcomed by the business community, as it would be considered as a relief during the time of crisis for exports industry of Pakistan.
In a statement, President SCCI, however, had shown his concern over the initiatives of Federal Government in awake of COVID-19 like the Prime Minister’s Relief Package for Small Business, as he stated that the export industry of Sialkot was willing to work, rather sustaining on the relief packages.
Malik, further added that the Exports Industry was already facing a setback from the lock down situation, due to the cancellation of their export orders as vendors were not still allowed to open that was considered imperative in the export process.
He also stressed that the Industries which were allowed to operate under the SOPs of GOP, would not be able to sustain any further due Supply Chain issues, and have a threat to lose their Exports orders, eventually. He requested that the Federal Government should allow the vendors to open so that the supply chain of the export industry could manage to sustain their ongoing orders and may also contribute to the crisis stuck economy of Pakistan.