Marble and granite sector: NBP, PASDEC sign MoU to boost export

KARACHI: A memorandum of understanding (MoU) has been signed between National Bank of Pakistan (NBP) and Pakistan Stone Development Company (PASDEC) for collaboration between the two organizations for development and promotion of the Marble and Granite sector of the country and undertaking outreach and engagement initiatives.

Under the MoU, both organizations will collectively pursue opportunities for provision of access of finance to the Marble & Granite sector of Pakistan as well as endeavour to develop the export potential of the sector. Also amongst the objectives will be facilitation in knowledge programmes, exploring opportunities for advisory services and evaluating potential avenues of joint venture projects to enhance local production of dimensional stone and exports.

PASDEC is a public limited company, incorporated under Section 42 of the Companies' Act 2017. It is a subsidiary of Pakistan Industrial Development Corporation (PIDC) and working under the administrative control of the Federal Ministry of Industries and Production. PASDEC's mission is to make Pakistan globally competitive and a socially responsible player of the international dimensional stone industry.

NBP is Pakistan's largest public sector commercial bank, providing a diverse range of products and services to the SME sector. The Bank is taking initiatives for increasing market penetration and growth in the priority sectors of the economy. The Inclusive Development Group (IDG) within NBP is spearheading these initiatives and is engaged in focusing on financial inclusion of underserved sectors that have significant business potential.-PR

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