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April 10, 2003
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Thursday
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Safar 7, 1424
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Loan for flour mills
By Our Staff Reporter
LAHORE, April 9: The State Bank of Pakistan (SBP) has allowed commercial banks to provide loans for the establishment of new flour mills.
The SBP decision to allow the commercial banks to start financing new flour mills is in line with a decision of the ECC of the federal cabinet made on March 18.
The banks and non-bank financial institutions (NBFIs) were disallowed from providing loans for new flour mills by the central bank way back in July 1999.
The financial institutions were stopped from financing new flour mills in view of “overcapacity” in the country, said a banker.
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