FPCCI, SBP hold seminar on provision of soft loans to SMEs

PESHAWAR: Speakers at a seminar on “Provision of soft loans from commercial banks to Small and Medium Enterprises (SMEs),” organized by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in collaboration with the State Bank of Pakistan here at the FPCCI regional office on Tuesday urged the State Bank of Pakistan and commercial banks to simplify procedures of loans for the traders so it can help to mitigate their financial problems as well as helping in expansion of businesses.

They also called upon the commercial banks to introduce a special package for development of tourism, mining, hydel and agriculture and ensure provision of soft loans to investors attached with these important sectors.

Besides, vice president SAARC Chamber, Senator Haji Ghulam Ali, FPCCI coordinator Sartaj Ahmad Khan, deputy chief manager State Bank of Pakistan, Abid Hussain, assistant chief manager Salman Jamil, Minhaj Bacha, Majeed Khan, Malik Muhammad Hanif, Muhammad Sabir, a large number of members of traders’ community attended the seminar.

Ghulam Ali while speaking on the occasion said that the expansion of businesses and the system is the name of the struggle, adding that the FPCCI will play a role as a bridge between commercial banks and the business community for provision of soft loans to them.

He assured to take measures for welfare of the business community and Pakistan, especially industrialization in Khyber Pakhtunkhwa. He added that the country’s system apparently is simple, but its practical implementation is very difficult.

He vowed to raise issues of the business community at every forum and will make efforts to bring ease in provision of loans to businessmen in newly merged tribal districts.

In this regard, he said they will make vigorous efforts to make legislation through parliament.

Ghulam Ali said it is an unfortunate fact that no one is ready to spare time for their own work. However, he urged the State Bank of Pakistan to simplify procedures so that the business community avail soft loans from commercial banks.

On the occasion, Sartaj Ahmad informed that a help desk will be established at FPCCI regional office, wherein all information would be available for the business community about obtaining banks loans.

He added another purpose of the desk is to ensure provision of bank loans for the business community belonging to newly merged tribal districts. He urged the commercial banks to introduce a special package for development tourism, mining, hydel and agriculture sectors and ensure provision of soft loans in this regard.

The SBP senior officials also spoke on the occasion and assured the participants that the SBP will extend full cooperation and support to ensure provision of soft loans to the business community from the commercial banks.

Copyright Business Recorder, 2020