Sialkot chamber: SBP urged to reduce mark up rates

SCCI President says that many of the exporters were facing the threat of losing foreign business orders.

SIALKOT: Sialkot Chamber of Commerce and Industry (SCCI) President Naeem Anwer Qureshi has urged the State Bank of Pakistan (SBP) for reduction in refinance mark up while formulating the monetary policy in order to help boost national exports. He said this while addressing a press conference at SCCI on Tuesday along with vice presidents Rahat Chand and Zafar Iqbal Jaffery. He said that in the  previous monetary policy, mark up on industrial loans had been reduced, but it did not benefit the business community, particularly the exporters. He demanded single digit mark-up of up to three per cent and further reduction in the refinance markup. He said also that many of the exporters were facing the threat of losing foreign business orders and customers due to the current hard and unfriendly circumstances at home.

Published in The Express Tribune, November 30^th, 2011.