FCCI chief welcomes Rs300bn export refinance boost for small exporters

Key Points:

FCCI President Arif Ehsan Malik welcomed the federal government’s decision to allocate Rs300 billion for small and medium enterprises under the Export Refinance Scheme
The chamber chief called the allocation an important milestone towards economic stability and said an active SME sector was essential for exports
He urged the government to simplify bank procedures so small industrialists could benefit without complex paperwork

FAISALABAD: The Faisalabad chamber on Tuesday welcomed a Rs300 billion export refinance allocation for small and medium enterprises.

According to the FCCI handout, President Arif Ehsan Malik called the allocation an important milestone towards economic stability.

He said sustainable economic growth and higher export volumes depended on making the small and medium enterprises sector active.

Against the global economic crisis, Mr Malik said the timely decision would speed up industrial activity and restore the private sector’s confidence.

He said Faisalabad’s textile and other export industries were under severe pressure from a shortage of capital and rising production costs.

The FCCI president said the Rs300 billion allocation would give exporters easy access to cheap capital and help them bring products up to export standards.

He added that faster exports and new employment opportunities would follow.

Mr Malik urged the federal government to simplify commercial banks’ procedures so that funds reached businesses fairly and transparently.

He said small industrialists should be able to benefit from the facility without complex paperwork.

The FCCI president assured the government that the business community would use all available resources to meet national export targets.

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