Industrialists demand deferment of banks mark up for few months

Islamabad, March 30, 2020 (PPI-OT): Muhammad Ahmed Waheed, President, Islamabad Chamber of Commerce and Industry said that due to coronavirus issue, businesses and industrial units were closed, but they have to pay the monthly commercial bills of gas and electricity, which is adding to their difficulties. He appealed to the government that receipt of commercial bills of gas and electricity from business and industry should be deferred for few months so that business community could be able to cope with the current crisis. He further said that if deferment of receipt of utility bills was not possible, business community should be allowed to pay monthly commercial bills in three installments till the time the coronavirus issue was over.

Muhammad Ahmed Waheed said that whole country including the federal capital was in lockdown situation due to which markets and industrial units were closed. However, business community has to pay the wages of workers and meet day to day expenses as well. He said that in these circumstances, deferring the receipt of commercial bills of gas and electricity for few months or allowing them to pay monthly bills in 3 installments would provide significant relief to the business community.

Tahir Abbasi Senior Vice President and Saif ur Rehman Khan Vice President ICCI further said that despite closure of industrial activities, industrialists have to pay mark up of banks on daily basis, which is putting more pressure on them. They stressed that government should also issue directions to commercial banks to immediately defer the receipt of mark up from industrialists for few months to save the industry from further troubles. They said that in these difficult circumstances, instead of earning profits, banks should realize the problems of industry and freeze the receipt of their mark up for few months to save the industrial units from closure.

For more information, contact:
Islamabad Chamber of Commerce and Industry (ICCI)
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1, Islamabad, Pakistan
Tel: +92-51-2250526, 2253145, 8432676
Fax: +92-51-2252950

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