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APBF delegation meets governor; demands soft loans at 1-2% markup with no collateral

LAHORE, JUN 11 /DNA/ – A delegation of the All Pakistan Business Forum (APBF), led by its President Syed Maaz Mahmood, called on Governor Balighur Rehman here at Governor’s House, where economic situation of the country and the problems faced by the businessmen were discussed in details. The APBF President apprised the governor about the issues of the business community.

Governor Balighur Rehman, on this occasion, assured delegation of the APBF to resolve their all issues. The Punjab governor said that the government has steered the country’s economy out of the crisis by making sincere efforts. He said that the country’s economy was showing the signs of stability which bodes well for the development and prosperity of the country.

The governor said that the strengthening of the country’s economy and promotion of trade and industry were the priorities of the government.

He added that the government is also very much concerned about the trouble faced by the business community. He said that the government is engaged with the business community on the all trade-related matters through consultation. He appreciated the APBF for its services for the cause of business community. He said that the business community is backbone of the economy and will be facilitated for sustainable economic growth of the country.

APBF President Syed Maaz Mahmood, on this occasion called for introducing soft policies for SMEs including special financing schemes where they can get credit at low markup rates with no collateral requirement on 1-2% markup rate. Moreover, there should be a holiday for all taxes and levies for five years for the newly registered companies, especially SMEs.

He said that the business community is backbone of the economy and is ready to supplement all efforts of the government aimed at economic revival of the country but the government will have to take the business community on board while formulating the trade and industry related policies.

Office bearers of the APBF expressed the hoped that the Governor Punjab will play an active role and will act as a bridge between the business community and the government. They said that it would also promote the idea of public-private partnership that is a key to success. They said that the inclusive policies should be formed in consultation with the stakeholders that will help achieve the economic goals.

The governor agreed with the proposal of the APBF office-bearers that a Charter of Economy should be signed in the larger interest of the country. They said that the taxpayers should be given respect and honor as they are backbone of the economy and are playing a key role to run the economic affairs of the country.

Syed Maaz Mahmood called for taking all steps to ensure a business and investment-friendly environment as it was imperative for economic progress and prosperity of the country.

Pointing out the problems being faced by the trade and industrial sectors, he stressed the need for providing a level-playing field to the business community. The government should also reduce the cost of doing business by ensuring supply of energy at concessional tariff especially for SMEs sector, he added.

He observed that in view of achieving economic growth through consistency in policies, the government will have to take solid measures to strengthen the trade and industry, especially the SMEs, saving the livelihood of millions of workers associated with the small businesses. He said that the small and medium enterprises are backbone of the economy and their role was crucial for economic development. He said that major issue of the SMEs is limited access to the financing, which should be increased.

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