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SCCI urges banks to extend support for industrialization

SCCI urges banks to extend support for industrialization

PESHAWAR: Sarhad Chamber of Commerce and Industry (SCCI) has urged the commercial banks to extend cooperation for industrialization, revival of sick industries and promotion of Small and Medium Enterprises (SMEs) to stabilize the terrorism-affected economy in Khyber Pakhtunkhwa.

It also demanded of the National Bank of Pakistan to provide soft loans for development of small-scale industries and Small Medium Enterprises (SMEs), as well as promote investment in hydel power generation, oil and gas, marble agriculture sectors. This was stated by SCCI president, Haji Mohammad Afzal during a meeting with NBP Senior Vice President, and Regional Head Syed Wasim Akhtar, General Manager Business, Akhtar Munir, General Manager Credit Shahid Majeed, SMEs Head Mohammad Sharif at the chamber house on Thursday. SCCI, senior vice president, Mohammad Iqbal and vice president, Abidullah Khan were present in the meeting.

Mohammad Afzal said that the National Bank of Pakistan should extend maximum loans on easy terms and conditions to promote industrialization and development SMEs sector in the province. He further said there should bring easiness in documentation process for business community, especially provision of maximum facilities for small-scale industries and businesses at micro level to support the terrorism-hit economy of the KP province.

The SCCI chief asked the NBP to present its proposals for revival of sick industrial units in Gadoon to make contact with State Bank of Pakistan in light of recommendations.

On the occasion, the chamber senior vice president, Mohammad Iqbal stressed the need for re-enerezing the sick industrial units at Gadoon Industrial Estate, and said the NBP being a prime financial institution of the country, should play its pivotal role for stabilizing the economy of the Khyber Pakhtunkhwa.

NBP vice president, and regional head, Syed Wasim Akhtar while speaking assured the participants of the meeting that the bank would play its active role in revival of sick industrial units and alleviating the economy of the province. He informed the NBP is making investment in Agriculture and other sectors, as Rs.2billion investment in agriculture made in Khyber Pakhtunkhwa province. He further said the bank would ensure maximum facilities to business community of the province.