Sherbaz Bilour – President Sarhad Chamber of Commerce and Industry (SCCI) – recently requested commercial banks to simplify the loan process and also reduce the interest rates. He said this to help new businesses enter the market and help grow the economy of the country.
He requested this during a meeting with a delegation of the National Bank of Pakistan (NBP), Peshawar region on Thursday.
Bilour informed that the traders had faced challenges in obtaining loans from commercial banks because of the long and dull procedure, and called for simplifying the loan issuance process to facilitate the community. He also asked banks to streamline and ensure a smooth working of the banking system by using modern technology.
He also added that the government should offer special incentives and loan plans to attract new investment and promote industrialization in KPK, which would help create employment opportunities and stabilize the local economy.
On the other hand, the NBP team informed the SCCI president of the prime minister’s housing scheme (Naya Pakistan) in detail and asked the business community to take benefit of the scheme.