December 18, 2002	Wednesday	Shawwal 13, 1423

FAISALABAD, Dec 17: The governor, State Bank of Pakistan, Dr Ishrat Hussain, has said that a one-window scheme was being introduced in all the commercial banks to provide interest-free banking.

Speaking to the members of Faisalabad Chamber of Commerce and Industry (FCCI) here on Tuesday, the SBP governor said that a comprehensive plan was being worked out for launching Islamic banking system in all the financial institutions.

He said a plan was also under way to reduce the non-developmental expenditure of big commercial banks so that they could provide loans at minimum mark-up after strengthening their financial position. However, small private banks have been allowed to open maximum number of their branches for the benefit of industrialists, he added.

He said that all the banks and financial institutions of the country had already been directed to provide loans at minimum mark-up to the exporters of all kinds of goods especially textile related articles. He said that special attention was also being paid to provide loans at nominal mark-up to the farmers.

He assured the FCCI members that government would provide all possible assistance and financial help to sick industrial units and a plan, in this regard, would be introduced soon. The textile sector was already given special attention and problems of industrialists would be resolved according to their desires, he affirmed.

He said that foreign debt was reduced up to 36 billion dollars from 38 billion dollars for the first time in the history due to well-conceived financial policies of the government. Efforts are being made to reduce it up to 34 billion dollars within next couple of days.

The president, FCCI, Mian Amjad Saeed in his address of welcome highlighted the problems faced by the industrialists and stressed upon the governor SBP for paying special attention in this regard.