SBP welcomes easy loans for small and medium enterprises: Mian Kashif Zia

Faisalabad (94 news) State Bank of Pakistan is providing loans to small and medium enterprises at easy terms and low mark-up rate to help entrepreneurs who are worried due to lack of capital to expand their business, Chief Manager State Bank of Pakistan Sarfraz Ahmad Nadeem said today while addressing an awareness session on financing schemes of State Bank at Pakistan Hosiery Manufacturers and Exporters Association.

He said that not only for exporters but also for local business people 6 Loans are being provided at percentage markup rate but unfortunately people are not fully benefiting from them. He said that our aim is to solve the problems of small and medium entrepreneurs by bringing together stakeholders, bankers and regulators under one roof.
Stunt Chief Manager SBP Tahir Abbas, while giving a briefing on the awareness session, said that the State Bank is providing loans for the convenience of SME's sector on the import of modern machinery, on local machinery, on power generation, renewable energy, on the capital requirement for running the work and on easy installments for business development at 6% annual markup rate.
He said that the small and medium-sized people should get maximum benefit from these schemes and if they face any problem from the banks in this regard, they can approach the State Bank through the platform of the association so that their problems can be solved in time.
Pakistan Hosiery Manufacturers and Exporters Association North Zone Chairman Mian Kashif Zia said that the number of member companies of his organization across Pakistan. 1600 is more than PHMA Member Annually 3.8 Earn billions of dollars in foreign exchange.

He said that the textile sector is going through a difficult period today as the 17% sales tax has been implemented and the textile policy has not yet been issued due to which the exporters cannot confirm future orders with their customers as the government has not yet announced the textile policy for the value added textile sector on a permanent basis.

Shaheen Tabsam said that our local hosiery sector, vest, socks and other products meet the needs of the country. He said that it is very welcome that our local hosiery sector can also benefit from these schemes. He said that thanks to these schemes we will be able to make international quality products with modern technology.