January 06, 2008	Sunday	Zilhaj 26, 1428

KARACHI, Jan 5: FPCCI president Tanvir Ahmed Sheikh has criticised the SBP act of reducing export finance, saying it will discourage exporters and adversely affect export growth and economy.

In a statement, the FPCCI president stated that the SBP should realise the importance of finance in the stimulation of exports. This decision would have a bad impact on the textile sector as it was its major recipient. The availability of export credit at subsidised rates enables exporters to efficiently execute their export orders at lower costs, he said.