SCCI Calls Simplifying Procedure Of Banks Loans To Develop SMEs Sector

President Sarhad Chamber of Commerce and Industry, Sherbaz Bilour has urged the commercial banks to simplify procedures and bring further reduction in interest ratio loans for development of small and medium enterprises (SMEs) sector

PESHAWAR, (UrduPoint / Pakistan Point News - 3rd Dec, 2020 ):President Sarhad Chamber of Commerce and Industry, Sherbaz Bilour has urged the commercial banks to simplify procedures and bring further reduction in interest ratio loans for development of small and medium enterprises (SMEs) sector.

He made this demand during a meeting with National Bank of Pakistan team Peshawar region led by 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 here on Thursday.

The NBP team apprised the SCCI president regarding Prime Minister Housing Scheme (Naya Pakistan) in detail and asked the business community to take benefit from this scheme.

Sherbaz Bilour said that traders have faced enormous difficulties in obtaining loans from commercial banks because of cumbersome and lengthy procedure, calling for simplifying the loans issuance process to facilitate the community. He furthermore asked to streamline and smooth working of the banking system by using modern technology.

SCCI chief emphasized that the government should offer special incentives and loans schemes to attract new investment to promote industrialization in the province that would help to create employment opportunities and stabilize the local economy as well.

He urged the commercial banks to simplify the procedure of loans for development of small businesses and industries in the province. He asked the banks to ensure provision of soft loans for businesses affected by corona virus lock down.

Sherbaz Bilour said the chamber's top most priority is to facilitate the business community and make efforts to attract investment in the province. However, he added that the government should announce special incentives to give a boost to industrialization in the province.

Earlier, the NBP team stressed upon the business community to take full benefits from the PM Naya Pakistan scheme as well as other soft loans programs to expand their businesses.