Export Promotion Bureau (EPB) has developed a financing product in consultation with the State Bank of Pakistan (SBP) to ensure financing at a flat rate of 7.5 percent for plant modernisation, equipment and computerisation as per plans, made by the foreign consultants.
The EPB would acquire world class consultants on competitive charges for assisting the export-oriented industry for technological upgradation, management, computerisation, etc.
The exporters would pay half consultation fee and half would be paid by EPB whereas the financing scheme for the plan enforcement to achieve the targets would be for seven years, during which the rate of interest would remain fixed.
EPB Chairman Tariq Ikram, making a presentation before the members of the Karachi Chamber of Commerce and Industry (KCCI) here on Wednesday, said the scheme would cover technology upgradation, export marketing and joint ventures, etc.
"We intend to hire the top consultant at very competitive price under a package deal," Tariq Ikram said.
Responding to a query, he said that the scheme has already been sent to the Ministry of Finance for its approval. The consultant would make a plan, which, if agreed upon by the exporting firm, would be implemented and finances, if needed for this plan, would be produced under this scheme, he explained.
Tariq said that the basic objective of the hiring of the consultants is the enterprise capacity building, which would involve all aspects of capacity building including the condition for foreign consultants to get assistance of local consultants.
It would help transfer of consultancy technology and lower charges for ongoing consultancy and repeat exercises, he added.
He also explained other schemes for marketing and brand development for export promotion and scheme for freight subsidy on exports.
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