KARACHI, Nov 7: President National Bank of Pakistan (NBP) S Ali Reza has asked its executives to finalize credit requests of textile sector within 15 days of receipt.
He issued these orders at a meeting with senior members of All Pakistan Textile Mills Association (Aptma) here on Wednesday. Senior executives of the NBP were also present on the occasion. Reza asked them to report the matter to him if credit application was not finalized within 15 days.
NBP President also directed his staff to be more responsive to the requirement of textile industry.
To another demand, he suggested that the bank could only reduce lending rates if the defaulting customers were persuaded by fellow businessmen. This will increase bank’s liquidity and profitability.
He expressed the hope that rupee would remain stable in next six months. He stressed the need for remittances through banking channels by expatriates.
NBP President emphasised that under the present difficult economic conditions the APTMA mills in particular and business community in general should strive hard for the betterment of Pakistan economy by increasing exports.
He agreed to look into matter of providing dollar loan to exporters, to be adjusted out of export proceeds. This will result in reduced borrowing cost and make Pakistani exports more competitive.
The Aptma representative led by its Vice-Chairman Mushtaq A. Vohra appreciated the growth rate of NBP and it business friendly attitude.
The meeting expressed concerns over the decline in garment export. Bank’s executives suggested ways and means for improving garment exports. The meeting was hopeful that stable rupee will encourage the return of dollar from Middle East, specially due to the start of scrutiny process in banks and exchange company.
The meeting was informed that long process of approval of facility has been done away with. Aptma members stressed the need for providing relationship manager services for quick access to services being provided by NBP.—APP
