FAISALABAD, Nov 03 (APP):Chief Manager State Bank of Pakistan (SBP) Sarfraz Ahmad Nadeem said on Wednesday that Small & Medium Entrepreneurs (SMEs) should avail easy loan from SBP to establish their businesses.
Addressing an awareness session at Pakistan Hosiery Manufacturers & Exporters Association (PHMA) here, he said that SBP was providing loans to SMEs on easy terms as well as at low mark-up rate of 6% per annum, which would help the cash strapped people to expand their business.
He said that this session was arranged to educate them about benefits of easy loan scheme so that they could get this loan and boost their business activities.
Assistant Chief Manager SBP Tahir Abbas said that SMEs needed modern machinery and other inputs, but due to lack of capital they face severe difficulties to meet their requirements. Therefore, the SBP introduced easy loan scheme, so that SME sector can import machinery in addition to spending money on other inputs for boosting up their business activities.
He said that SMEs should get maximum benefit from this scheme. If they have any problem from banks, they can approach SBP through PHMA platform so that their problems can be solved in time.
Earlier, in his welcome address, Mian Kashif Zia Chairman PHMA North Zone briefed his association and said that PHMA was the largest and selected exporter of knitted garments. It had more than 1,600 member companies across Pakistan and had the distinction of providing the largest number of employment opportunities in the country.
He said that PHMA members earn Rs 3.8 billion foreign exchange for the country per annum while its offices were operational in Faisalabad, Karachi, Lahore and Sialkot.
Shaheen Tabassum former Chairman PHMA (NZ), Chaudhary Salamat Ali, Mian Farrukh Iqbal, Mian Naeem Ahmed, Chaudhary Javed Aslam, Deputy Chief Manager SBP Asif Jabbar and others were also present.
Later, Mian Kashif Zia Chairman PHMA North Zone presented PHMA shield to Chief Manager SBP Sarfraz Ahmed Nadeem.
Follow the PNI Facebook page for the latest news and updates.
