Govt finalising scheme to support SMEs: Razak Dawood

ISLAMABAD: Adviser to Prime Minister for Commerce and Investment Abdul Razak Dawood said on Sunday the government is finalising a scheme to support Small and Medium Enterprises (SMEs).

Taking to Twitter, he said the programme would be announced soon.

The govt is finalizing a scheme to support SMEs across all sectors & this programme will be announced shortly.1/2@ImranKhanPTI @ansukhera @aliya_hamza @cmopak @Emergingpk @PTIofficial @PTVNewsOfficial @RadioPakistan @appcsocialmedia

— Abdul Razak Dawood (@razak_dawood) April 19, 2020

The premier’s aide said: “It is our endeavour to help small businesses as compared to larger ones because of their weaker financial position.”

It is to mention here that the State Bank of Pakistan (SBP) had further slashed its key interest rate by two per cent (200 basis points) to nine per cent to “cushion the impact of the Coronavirus shock on growth and employment, including by easing borrowing costs and the debt service burden of households and firms, while also maintaining financial stability.”

Over the past one month, the central bank’s key interest rate has seen a cumulative reduction of 4.25 per cent.