Lahore: State Bank of Pakistan (SBP) Governor Dr Reza Baqir on Friday (March 11) asked private businesses to get loans to construct low-cost houses for their employees, news sources reported. He stated that the central bank would bear the collateral and lending risk.
Reportedly, Baqir stated at a meeting with Lahore Chamber of Commerce and Industry (LCCI) President Mian Nauman Kabir that the government is urging big firms to take advantage of loan perks for low-cost five to ten marla home loans for their staff. According to Baqir, this will assist the government in meeting its goal of establishing a low-cost housing programme while also addressing the country’s housing issue. During the meeting, Baqir also emphasised the significance of the ‘Asian Finance Scheme (SAAF),’ which provides collateral-free loans to small and medium-sized businesses (SME). In addition, members of the LCCI delegation asked the governor to implement trade promotion policies and policies that facilitate exports between the Central Asian Republics (CAR) and Russia.
The members also requested that the government develop a mechanism for currency swaps for export and import and a barter system for promoting commerce between Iran and Pakistan. It is worth noting that the SBP has created the SAAF programme, which allows small enterprises and manufacturing units to get collateral-free loans of up to PKR 10 million from the private banks at reduced interest rates
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
