Karachi: Karachi Chamber of Commerce and Industry (KCCI) Small Traders Committee Chairman Abdul Majeed Memon recently petitioned the State Bank of Pakistan (SBP) to provide wage support to small businesses under its wage relief programme at zero interest rate; in an attempt to mitigate the wide-ranging fears regarding the cottage industries being unable to pay their due interest amounts — a news source reported.
The chairman stated that the commercial banks were reluctant
to provide loans to small businesses even though they were the ones who needed
assistance the most.
Memon felt that the primary way in which the central bank could support small businesses was by providing loans to them on easy conditions and minimal interest rates.
Pakistan Association of Automotive Parts and Accessories
Manufacturers (Paapam) former chairman Mashhood Ali Khan recommended that the
State Bank should draft a separate policy for small and micro enterprises so
that they can be assisted effectively in keeping their businesses operational, and
their workforce intact.
