KARACHI, March 28: The managing director of Pakistan Industrial Credit and Investment Corporation, Mohammad Ali Khoja, has said that his organization is venturing into extending small and medium loans for consumer-financing.

Speaking at a three-day workshop, organized by the PICIC on Friday, Mr Khoja pointed out that on the desire of the State Bank, the PICIC has entered into extending small and medium type of loans for consumer financing.

He announced that this very scheme would be officially launched from March 31.

The PICIC chairman, Khursheed K. Marker, who was the chief guest, said that today the PICIC assumes the role of a financial supermarket.

Meanwhile, an official of PICIC said that the organization had launched three new consumer products, namely housing finance loan, small business loan and investment loan. He said the housing finance scheme has been launched by PICIC with the slogan “Home for Everyone”.

The loans would be extended for constructed house/flat, renovation, expansion, house/flat refinance, new construction of house/flat, purchase of land.

The official further said that the limit of the loan in this respect would be up to Rs 10 million.— APP