Qasim Nawaz, joint director of State Bank of Pakistan said the modalities of long term financing for export-oriented projects at a low rate of interest of five per cent to be provided through a few designated commercial banks in Pakistan. He was addressing a large gathering of small and medium entrepreneurs at the Islamabad Chamber of Commerce & Industry (ICCI).
Nawaz elaborated the main features of the SBP scheme and stated that the scheme would focus on SMEs to enhance their production potential for exports and synchronize it with Government’s trade policy.
The supporting elements would include machinery, plant, equipment and accessories that are not manufactured locally. Furthermore this arrangement would help acquisition of brand name/franchise with a loan extending over a period of five years. The adequacy of capacity of the exporting companies would be a pre-condition for eligibility of loan under the SBP scheme.
