<h1>Temporary Suspension of Fresh Insolvency Proceedings During COVID-19 Under Insolvency and Bankruptcy Code Amendment Ordinance 2020</h1> The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2020, was promulgated to provide relief to businesses affected by the COVID-19 pandemic. The ordinance temporarily suspends initiation of fresh insolvency proceedings against companies for defaults arising during the pandemic period. This measure aims to protect businesses from being pushed into insolvency due to the unprecedented economic challenges posed by the pandemic. The ordinance is part of broader efforts to stabilize the economy and support businesses in navigating financial difficulties during this period.