RAWALPINDI: Rawalpindi Chamber of Commerce and Industry (RCCI) in collaboration with State Bank of Pakistan (SBP) has organized an awareness seminar on Export Finance Scheme here on Saturday.
Addressing the participants, President RCCI Raja Amer Iqbal urged the Small and Medium Enterprises (SMEs) to avail the State Bank of Pakistan’s Export Finance Scheme.
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The central bank’s scheme could help SMEs to meet their financial needs, he said adding, both, developing and developed countries have recognized the importance of SMEs sector which plays a vital role in the development of a country’s economy.
Raja Amer said SMEs are an important factor of the economic circle which provides a basis for industrialization and mass production. Many social problems could also be addressed by promoting the SMEs sector, he added.
Earlier, Joint Director, Infrastructure Housing and SME Finance Department SBP Karachi Iqbal Hussain highlighted the key features of the scheme. While giving a detail presentation, Iqbal Hussain said, under the existing performance-based mark-up rebate system of EFS Part-II, exporters can avail a mark-up rate rebate ranging from 0.5-1.5% depending on the level of export performance achieved.
For SMEs, the incentives of mark-up rebate have been increased by 0.5% for each category of the existing export performance level. Finance facility for storage of Agri produce is also applicable, he informed.
Senior Vice President Rashid Waien, Vice President Asim Malik, member of the executive committee, representatives from SBP and Commercial Banks and a large number of traders attended the seminar.
