Patron in Chief SM Muneer and President of Korangi Association of Trade & Industry (KATI) Sheikh Umer Rehan had welcomed the relief incentives of State Bank of Pakistan for industries however urged for zero interest rate for lending.

In a statement released by KATI SM Muneer said that PM Khan and SBP have responded timely in the current global crises due to spread of Covid-19 pandemic which have drastically effected the economy internationally. He was of view that this crisis have proven a great disaster for the economy and it is a greater economic challenge than its medical devastations. He also urged the PM and Governor State bank to bring interest rate to zero for industries in announced relief incentives of SBP.

Sheikh Umer Rehan mentioned that SBP have rightly showed it concern for small and medium industry however for the larger good of this sector utility payment and other production expenses should be cover in the relief package of SBP. He said that continuation of industrial activity and production is the only answer to the economic and unemployment challenges of current crisis. He also urged the SBP to offer interest free credits to industrial units.