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Banks finance big rice exporters
KARACHI, April 17: Big
rice exporters are accumulating rice and building
their inventory and banks are financing them under
the Export Refinance Scheme on very nominal mark
up whereas SME rice exporters are not getting
finance due to their inability to provide
collaterals.
This was stated by Zulfikar Thaver, Convener Union
of Small and Medium Enterprises (UNISAME) during a
meeting between members of SME Task Force and Syed
Najaf Hussain Shah, Barrister, Chairman of Rice
Export Association of Pakistan (REAP) in his
office in Lahore.
He said out of 1000 rice exporters 900 are SME
rice exporters and their problems need to be
addressed.
Thaver said that although the State Bank of
Pakistan had advised the banks to provide finance
to SME on cash flow basis yet the banks are not
willing to examine the possibility.
The News International, Pakistan |
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Pakissan.com; Advisory Point
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