Staff Reporter
Islamabad
President Islamabad Chamber of Commerce & Industry (ICCI) Muhammad Ahmed Waheed has called upon the government to defer the banks mark up on running finance of businesses/industries for 6 months to 1 year as due to closure of business activities on account of lockdown caused by Covid-19, it was not possible for businesses and industries to pay mark up on running finance in these tough times.
In a statement issued here on Tuesday, Muhammad Ahmed Waheed said that many business and industrial units have obtained loans from banks to meet the needs of running finance and working capital and they were paying mark up through revenue generation from business activities. However, most of the business and industrial units were closed these days due to which it has become very difficult for them to pay mark up and installments of loans.
He said that banks were placing the names of such businesses in the defaulter list of electronic credit information bureau (ECIB) due to which it would become more difficult for such businesses to obtain bank credit in future.