Pakistan · World · Independent Digital Newsroom
It urged the SBP governor to develop a comprehensive and sustainable financing plan, specifically for small and medium-sized industries.According to Raza Hussain, SMEs are currently being provided business loans at a rate of 2% above Karachi Inter-bank Offered Rate (Kibor), making financing for small industries extremely expensive.
The FBATI said costly bank loans had made it difficult for industrialists to purchase machinery and increase production.
In view of these ground realities, it urged the SBP governor to provide small industries with financing at lower rates, similar to the facilities available to exporters.
The association said the growing number of closures of small units were increasing unemployment.
Industry seeks long-term SME loans at 2% Our Correspondent | Updated 7 minutes ago | .
