KARACHI: After the successful completion of the scheme, “Revival of sick industrial units in rural Sindh Phase I”, an agreement has been signed between the Sindh Bank and the Sindh Board of Investment (SBI) for the second phase. This is a scheme to revive sick industrial units. The disbursement of loans under phase I of the scheme resulted in an improvement in the economy and job creation in rural Sindh. The government of Sindh, through the SBI, initiated the scheme by earmarking funds of Rs2 billion under the Annual Development Programme 2014-15. The provincial government has asked the Sindh Bank to use its expertise and act as an executing agency of the scheme by inviting loan applications from sick industrial units located in rural areas, appraisal of loans and its recovery as per the State Bank of Pakistan Prudential Regulations.
Published in The Express Tribune, August 19th, 2014.
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