Indust­ries minist­ry also workin­g on a collat­eral-free financ­ing for SMEs affect­ed by Covid-19 pandem­icISLAMABAD: A relief package for small businesses affected by the coronavirus pandemic will be presented before the Economic Coordination Committee (ECC) of the Cabinet on Monday (today). Federal Industries and Production Minister Hammad Azhar on Sunday said millions of small businesses would benefit from the package once it was approved by the ECC and the cabinet. “The Ministry of Industries and Production shall table in the ECC the phase one of “Chota Karobar Imdad Package [Small Business Support Package],” he tweeted. The minister further wrote that his ministry was working on a collateral-free financing for SMEs [small- and medium-sized enterprises] in phase two of the relief package. Previously, a cabinet committee had approved a Rs1.2 trillion relief package to shield the economy from the adverse effects of the pandemic.

Source: The Express Tribune April 26, 2020 18:25 UTC