KARACHI, July 8: The SME Bank has planned to offer a financial scheme for the marble processors for increasing their processing capacities and upgrading of their units. In this connection, the All Pakistan Marble Industries Association (APMIA) has received a letter from Small and Medium Enterprise Development Authority (Smeda), which has arranged a meeting of SME Bank officials with marble industry people next week to discuss the possibility of offering the scheme for the marble industry.

Smeda thinks that the marble processing industry in Pakistan and especially in Karachi is growing at a fast pace. The authority is of the view that the current growth presents an excellent opportunity to marble processors to increase their processing capacities or upgrade their equipment.

APMIA Chairman Sanaullah Khan told Dawn that local banks had also offered loaning facilities to the marble industry for upgradation of processing units.

However, he said that the 95pc of marble processors were running their units on self-financing basis.

He said that it was a good omen that the banks were finally realizing the potential of the marble industry, while on the other hand the provincial and federal ministry were giving a lukewarm response to our demands that had been sent to them so far.

The foreign donor agencies like the WB and USAID are watching the developments in the marble industry, but the government is not ready to realize the potential of this sector, he added.