SIALKOT: State Bank of Pakistan (SBP) Governor Tariq Bajwa has pledged to make access to financing easier for the promotion of agriculture, small and medium enterprises (SMEs) and housing sectors.

Addressing exporters and bankers at the Sialkot Chamber of Commerce and Industry on Thursday, Bajwa said the SBP was committed to removing all the obstacles from the smooth functioning of these sectors.

He said the SBP was working to facilitate efficient credit allocations for SMEs, calling them critical for sustainable and inclusive economic growth. The central bank has also simplified the procedure of loans applications, he added.

The governor said the SBP would soon give a “special barrier” to all the commercial banks for controlling the interbank rates and minimising the difference of foreign currencies rates to help SMEs as well.

He said that the SBP has also ensured maximum provision of prize bonds of all denominations at all banks across the country for public facility within the next few months.

The governor also mentioned the State Bank’s efforts to operationalise the Exim Bank which has faced a setback due to capitalisation issue, adding that it would help the country’s importers and exporters.

Bajwa assured the country’s business community about the continuity of the government’s effective economic and trade policies for strengthening the national economy and promotion of sustainable trade activities in the country.

He urged the Sialkot business community to focus on diversifying from traditional to non-traditional export products besides focusing on exploring new international markets. He added that the environment in Pakistan is conducive to foreign investment in Pakistan, as the investment and business-friendly policies and special packages of incentives have been attracting foreign investors to Pakistan.

The governor said that attempts are under way to boost the country’s exports, as well as creating a strong industrial base through provision of maximum job opportunities to unemployed youths.

Published in Dawn, March 23rd, 2018