DS-Concept Factoring has started providing complete export finance solution and security to the exporters of Pakistan, said DS-Concept Factoring Business Development head Qaseem Jaffri.
Addressing a seminar held at Sialkot Chamber of Commerce and Industry (SCCI) on Friday, he said that DS-Concept would help reduce the problems being faced by the exporters' community of Pakistan.
Jaffri said that exporters with DS-Concept Factoring would be able to avail of advantages like immediate access to money after shipment of goods. Besides 100 percent credit insurance cover would be provided to the exporter in case the buyer got bankrupt and for this no guarantee or collateral was required.
The DS-Concept Factoring would help resolve export financing solutions of the exporter, he said, and added that DS-Concept bought the receivables of export due on their customers in European Union (EU), United States, Turkey, Singapore, Hong Kong and the Middle East.
Speaking next, SCCI Vice President Raza Munir Chaudhry lauded the DS-Concept Factoring for offering export financing and 100 percent credit insurance. The importance of this scheme had special relevance for Sialkot industrial sector, which was small and medium enterprises (SME) based, he said.
Raza Chaudhry said Sialkot was dynamic economic centre of Pakistan and only export-oriented city of the country, adding that its industrial set-up was totally based on the SME culture and hundreds of SMEs situated in and around the city and were supplying quality goods to all parts of the glob.
The SCCI Vice President said it was undeniable fact that vibrant development of the SMEs needed financial support of banking sector along with safety cover to export on D/A, D/P, LDP or terms of L/C, which presently was not encouraging.
Raza Chaudhry stressed the need for financial support together with support of DS-Concept Factoring for export-based SME development. The importance of banks and financial institutions and other organisations for economic success was established and these institutions were an integral part of business and trade, he said.
The SCCI Vice President said that exporters would benefit immensely from the service being offered by DS-Concept Factoring for improving the export business under which they would be able to give needed terms to their importers.
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