ECC approves Rs50 billion relief package for SMEs hit by Covid19

ISLAMABAD: The Economic Coordination Committee (ECC) meeting chaired by Adviser to Prime Minister on Finance & Revenue Dr Abdul Hafeez Shaikh approves Rs 50.69 billion package for Small and Medium-size Enterprises (SMEs) hit by coronavirus pandemic.

Adviser to PM on Finance Dr Abdul Hafeez Shaikh presided over a meeting of ECC in Islamabad on Monday.

The Ministry of Finance tweets said “ECC meeting chaired by Adviser to PM on Finance & Revenue Dr. Abdul Hafeez Shaikh today approves Rs 50.69 billion packages to provide indirect cash flow support to small and medium-sized enterprises (SMEs) through pre-paid electricity.”

ECC meeting chaired by Adviser to PM on Finance & Revenue Dr Abdul Hafeez Shaikh today approves Rs 50.69 billion package to provide indirect cash flow support to small and medium size enterprises (SMEs) through pre-paid electricity.
— Ministry of Finance (@FinMinistryPak) April 27, 2020

Federal Minister for Industries and Production Hammad Azhar in a press conference at Pakistan Information Department (PID) approved the package that will benefit 3.5 million small businesses.

“For Those with 5KW commercial or 70KW Industrial (power) connections, the government will pay their electricity bills for up to 3 months after they restart” – Hammad Azhar