Rs51bn relief package announced for small businesses

Rs51bn relief package announced for small businesses

Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh, while chairing the meeting of Economic coordination committee (ECC), approved the “Chota Karobar- o-Sannat Imadadi package” worth Rs50.69 billion.

The Ministry of Industries and Production had prepared the “Chota Karobar-o-Sannat Imadadi Package” in consultation with Small and Medium Enterprises Development Authority (SMEDA).

The project aims to provide financial support to approximately 95 per cent commercial consumers with connected load up to 5KW and 72 percent of industrial consumers with connected load of up to 70KW.

Under the package, commercial consumers would be given support up to Rs 100,000 and industrial consumers up to Rs450,000 for three months for May-July 2019 based on estimated electricity consumption and for those meters whose electricity consumption data is not available for the full base period, appropriate average will be used.