‘Modaraba based refinance scheme to help SMEs’

KARACH: Dr. Mirza Ikhtiar Baig Senior Vice President FPCCI and Chairman FPCCI standing committee on banking, credit and finance appreciated the State Bank of Pakistan for allowing the Modaraba based refinance scheme for working capital financing of SMEs and medium enterprises.

The financing has been allowed for information, technology, furniture, gems and jewelry, leather industry, surgical goods, dates processing, fruits vegetables, food processing, packaging and printing with a turn over of Rs. 300 million with a maximum financing limit of Rs. 50 million under the PIFI. Dr. Baig said the facility will help small and medium enterprises for working capital needs which was a long standing demand of FPCCI with the central bank.