FAISALABAD: Exponential growth is expected from next year due to the viable economic policies and State Bank of Pakistan (SBP) must educate business community about its concessional schemes to fulfill financing needs of the business community, said Rehan Naseem Bharara, President Faisalabad Chamber of Commerce & Industry (FCCI).
In a meeting with Chief Manager SBP Faisalabad Waqas Kashif Bajwa, he said that SBP has introduced subsidized loans for the SME sector but they are not allowed to import old machinery under this scheme. He said that SME has limited financial resources and could not purchase new Air Jet or Sulzer power looms as a dollar has escalated from Rs. 80 to 281. He said that machinery abandoned after two or three years in developed countries could be reused in Pakistan for decades ensuring improved quality and production.
He requested the Chief Manager to launch a comprehensive awareness campaign to inform businessmen about the benefits of the concessional schemes launched by SBP. He said that the definition of the SME sector could also be proportionately increased while the limit of Rs. 5million may be increased up to 10 million for female entrepreneurs.
Waqas Kashif Bajwa said that SBP was regularly organizing awareness sessions about its various concessional schemes but it could not give the desired results. He assured to launch awareness sessions afresh in collaboration with FCCI to motivate the concerned stakeholders to avail this facility.
Later President Rehan Naseem Bharara presented a special gift to Chief Manager SBP Faisalabad while he was also decorated with a pen to mark the 50 Years Golden Jubilee Celebrations of FCCI. Madam Qurat Ul Ain Deputy Chief Manager SBP, Senior Vice President FCCI Qaisar Shams Gucha and executive members Muhammad Ali and Waheed Khaliq Ramay were also present during this meeting.
Copyright Business Recorder, 2025
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