SCCI wants simple loan sanction procedures

by Tauqeer Abbas
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Sarhad Chamber of Commerce and Industry President Sherbaz Bilour has urged the commercial banks to simplify loan disbursement procedure and bring a cut in the rate of interest for the development of small and medium enterprises (SMEs) sector. He made this demand during a meeting with the National Bank of Pakistan’s Peshawar region team.

Vice-president (Regional Executive Business) Waqar Ahmad, vice-president SMEs Asif Naeem, Manager Marketing and Recovery Muhammad Muez Afridi and SME Information Officer, Muhammad Taimur were in the team.

The NBP team apprised the SCCI president of the Prime Minister’s Housing Scheme (Naya Pakistan) in detail. It asked the business community to benefit from the scheme. Sherbaz Bilour said traders faced difficulties in obtaining loans from commercial banks because of cumbersome and lengthy procedure, calling for simplifying the loans issuance process to facilitate the community.

The SCCI chief asked for streamlining and a smooth working of the banking system by using modern technology. He urged the government to offer special incentives and loan schemes to attract new investment to promote industrialization in the province. The SCCI said both the measures would help create employment opportunities and stabilize the local economy as well.

He said the government should announce special incentives to give a boost to industrialization in the province. Sherbaz Bilour asked the banks to ensure the provision of soft loans for businesses affected by coronavirus lockdown.

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