Efforts to be made for revival of sick units: SBP
- He was addressing a zoom meeting with the owners of sick units at the Faisalabad Chamber of Commerce & Industry (FCCI) here.
FAISALABAD: State Bank of Pakistan (SBP) Executive Director Syed Irfan Ali on Monday said all-out efforts would be made to revive sick industrial units.
He was addressing a zoom meeting with the owners of sick units at the Faisalabad Chamber of Commerce & Industry (FCCI) here.
He said the government and all financial institutions were taking steps for revival of economy in addition to creating maximum job opportunities.
He asked President FCCI Rana Sikandar Azam Khan to provide details of sick units so that action could be initiated immediately.
On this occasion, Javaid Akhtar, Director Banking Policy & Regulation SBP, said ten banks had constituted a Corporate Restructuring Company (CRC) with a mandate to revive sick units.
“This company is headed by Sarwar as its chief executive", he added.
Meanwhile, FCCI President Rana Sikandar Azam said the units had played a key role in national exports in addition to providing much-needed jobs to unemployed youth.
The meeting was also attended by Mushtaq Ali Cheema, Engr Babar Shahzad, Khalid Habib, Muhammad Riwan and Muhammad Ziagham of Sandal Dyes stuff & Chemical Manufacturing.