By Abdul Rafay Siddiqi
KARACHI: Chairman Businessmen Group (BMG) & Former President KCCI Siraj Kassam Teli and President KCCI Agha Shahab Ahmed have appealed to the Prime Minister Imran Khan, Advisor Finance Hafeez Shaikh, Advisor Commerce & Investment Abdul Razak Dawood and Federal Minister for Industries & Production Hammad Azhar to announce across the board relief to all sectors of the economy instead of pursuing a pick & choose strategy which would never benefit the domestic economy or the people in the middle and lower income categories.
Siraj Teli and Agha Shahab have emphasized that all the businesses and industries have been suffering losses and struggling to survive in business due to the outbreak of coronavirus pandemic. No industry or business have been spared by the impact of pandemic on economy, hence it is necessary to announce an across the board relief package for all sectors of trade and industry irrespective of size and level of business, so that businesses could survive unprecedented crisis and economic shocks. Recent relief packages announced by the SBP are limited mainly to export sectors or certain medium to large employers. Major part of the SMEs and nearly all domestic industries and businesses have not been benefited by any such package.
Most of the businesses and industry are finding it hard to stay solvent in the present circumstances and may be forced to declare bankruptcies if timely relief is not provided to them. Chairman BMG Siraj Teli said, “As survival is the name of the game so the government should immediately extend relief at any cost without wasting time otherwise the businesses are going to become bankrupt and the economy would consequently sink. Support businesses now for survival and you (the government) can earn later.”
President KCCI Agha Shahab said, “The pick and choose strategy being pursued by the government is discriminatory towards domestic industry and trade, which is neither in the interest of businesses nor the economy so it has to be stopped and immediate relief must reach out to all categories and sectors of trade and industry rather than one or two selected sectors.”