All the main trade bodies of Sialkot have urged the Federal government to make some immediate efforts for bringing down the mark-up rate on all the bank loans to five percent.
They also asked the government to ensure easy and smooth availability of the financial loans for the business community on maximum mark-up rate of five percent for boosting economy through jazzing up the pace of all trade and export activities in the country, especially Sialkot.
This was resolved in a joint meeting of trade bodies of Sialkot, held at Surgical Instruments Manufacturers Association (Sima) of Pakistan here on Monday. The house expressed grave concern over the exorbitant rate of mark-up available to the exporters.
The leading trade bodies were of the view that due to various factors, the exporters were already facing hardships to keep running their businesses, the government had slowly raised the mark-up rates to the level where financial costs for the exporters had become unbearable.
The trade bodies urged the Federal government to reconsider this matter and arrange availability of all types of finance at maximum mark-up rate of five percent, as it would provide relief to the exporters and basis to launch research and development work in their industries.
The meeting was attended by Sialkot Chamber of Commerce and Industry President Dr Nouman Idrees Butt, Sima Chairman Naeem Anwar Qureshi, Pakistan Leather Garments Manufacturers and Exporters Association (Plgmea) Central Chairman Chaudhry Ahmed Zulfiqar Hayyat, Zonal Chairman Hassan Ali Bhatti, Pakistan Gloves Manufacturers and Exporters Association Chairman Dr Shumail Saeed Barlas and zonal chairmen of Pakistan Readymade Garments Manufacturers Association (Prgmea) and Exporters Association.
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