Chairman Pakistan Industrial and Traders Associations Front (PIAF) Mian Noman Kabir has said that the announcement of reduction in petroleum products by the government is a welcome and auspicious step which has significantly reduced the cost of industrial production and also brought down inflation in the country. "Small and medium enterprises (SMEs) are in fact the backbone of the economy," he said in a statement. The retail sector, which is a major pillar of the country's economy, has been badly affected, and those who are providing employment to millions of families in the country through their industry and shops, he said that the government's decision to reduce the supply of petroleum products will alleviate their problems to some extent because of the lockdown in the retail sector so far. The PIAF chairman added that the government has also announced various financial packages to address the challenges posed by the corona virus, which will also provide financial support to the business community, said Mian Noman Kabir. In addition to the Rs. 12,000 package for the poorer sections of the society, the government has also reduced interest rates. Relief was announced to atun is a welcome initiative he said that SMEs are also the backbone of the economy and after the lockdown, they would need to be given special attention so that the problems faced by the industry could be solved and the country's economy could improve. ۔
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