APBF demands loans at 3% mark-up for SMEs

APBF demands loans at 3% mark-up for SMEs

The All Pakistan Business Forum has urged the central bank to announce a soft loan with a maximum mark-up rate of 3%, especially for SMES to bailout their struggling businesses.

The forum expressed concerns over the insufficient cut of just 1% in the key policy rate to 8%, in a statement issued Saturday. APBF President Syed Maaz Mahmood also expressed dissatisfaction over the financial packages announced by the government for the industry to deal with the challenges posed by the coronavirus. He called for significant cuts in import duties and waiver of sales tax, income tax and additional income taxes, which are still being charged in this time of grave crisis.

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