SCCI for soft loans for promotion of small-scale businesses, industries

PESHAWAR: Sarhad Chamber of Commerce and Industry (SCCI) president Fuad Ishaq on Saturday urged the government and State Bank of Pakistan to issue directives to commercial banks to ensure provision of soft loans for promotion of small-scale businesses and industries in Khyber Pakhtunkhwa.

Talking to Al-Falah Bank’s regional business head Khyber Pakhtunkhwa and Gilgit Baltistan, Jamil Ahmad Savul, he said the businessmen and exporters from Khyber Pakhtunkhwa were facing numerous difficulties and commercial banks should ensure all possible facilities to them.

He demanded steps to ease difficulties of the business community regarding opening of letter of credits (LCs) so that the people would continue earning livelihoods for their families.

The SCCI chief also urged the commercial banks to improve lending ratio and introduce special schemes for revival of terrorism-affected and coronavirus pandemic-hit businesses and industries, especially the sick industrial units in Khyber Pakhtunkhwa.

Jamil Savul assured the SCCI president that the bank was taking steps to facilitate the business community at every level in the province.

He apprised SCCI chief about difficulties that had been confronted by management of the bank regarding setting up a branch of the Al-Falah Bank in Industrial Estate Hayatabad and urged the SCCI to play a role to remove all hurdles in this regard.

Fuad Ishaq assured officials of the Al-Falah Bank to take up the issue of opening a branch of the bank with relevant provincial authorities. The SCCI chief said KP was declared red-zone by commercial banks wherein they got double deposits against low ratio of lending while banks were also reluctant in opening of LCs.