Mirza Ikhtiar Baig

Dr. Baig appreciate Modaraba based financing for SMEs

Dr. Mirza Ikhtiar Baig Senior Vice President FPCCI & Chairman FPCCI standing committee on Banking, Credit & Finance appreciated State Bank of Pakistan allowing Modaraba based refinance scheme for working capital financing of SMEs and medium enterprises, the financing has been allowed for information, technology, furniture, gems & jewelry, leather industry, surgical goods, dates processing, fruit & vegetable, food processing and packaging and printing with turn over Rs. 300 million with maximum financing limit of Rs. 50 million under PIFI.

Dr. Baig said it will facilitate small & medium enterprises for working capital needs which was an overdue demand of FPCCI with the central bank.