Refinance Scheme Finance Company

To meet the said working capital requirement Meezan Bank has complete range of products. Under National Financial Inclusion Strategy and strategic direction of SBP, SME sector has been identified as one of the key priority areas. In line with the strategic direction of SBP, key benchmarks to be achieved by 2020 are i) to increase SME share from existing 8 percent of private sector credit to 17 percent and ii) to increase number of borrowers from existing 174,000 to 500,000. Through this corporate arrangement, HBFC will facilitate the employees of Salaam Takaful Limited to avail housing finance facility across Pakistan on preferential terms & conditions. Through this corporate arrangement, HBFC will facilitate the employees of IGI Life to avail housing finance facility across Pakistan on preferential terms & conditions.

Islamic Export 

The Macroeconomic Advisory Group endorsed the government’s efforts being undertaken for dealing with the impact of rising prices on general population. All members shared contentment that new initiatives being undertaken by the government are in line with the sustainable macroeconomic stability paradigm. The Finance Minister Mr. Shaukat Tarin appreciated the contribution of APBUMA in economic growth of the country. Minister assured that government is actively carrying out all measures that could boost the SME sector. As growth of SME sector leads to employment generation, export promotion and boost overall business activity in the country.

NPMC also discussed sugar prices in the country and was apprised that a slight decrease in the sugar prices have been witnessed in the last week. Further, the Chair directed Ministry of Industries and Production to expedite the process for building strategic reserves of sugar in the country to maintain stability in prices. On the prices of wheat flour, NPMC was informed that Wheat Flour prices in Quetta remained on higher side as compared to other parts of the country.

Available to the export oriented projects only if their annual export is equivalent to US $5 million or at least 50% of the sales whichever is lower. A Bank guarantee to indemnify a third party against default of payment, overdue or non-performance of contract by Bank’s customer. It is similar to Murabaha, however, in this Bank does not disclose the cost and profit to customer. House Building Finance Company inaugurated its first Customer Facilitation Centre for the ease of its customer, to cater their queries and provide them a one window solution. The facility of Bachat Scheme is being offered to all the operative account holders of Ghar Aasan Scheme - Flexi (GAS - Flexi) only, who are willing to avail the fixed rate mortgage facility i.e.

Finance Minister Shaukat Tarin appreciated the efforts of KP Finance Minister and ensured full support and cooperation of the federal government. Geographically located at the tripod of three provinces, Rahim Yar Khan is linked by road, rail and airways with rest of the country. State of the art international airport of RYK serves as a strategic link of the city with national and international markets. Availability of decent facilities for road travel, rail network and goods transport & logistic network adds the importance of this city in communication.

Consumer Finance

Mr. Hatem Dowidar, CEO Etisalat reaffirmed to have evaluation of properties completed soon and expressed readiness to further invest in IT and Telecom sector in Pakistan. Both sides agreed to proceed ahead for resolution of all outstanding issues between Etisalat and the Privatization Commission in a spirit of goodwill. The Chair also observed hike in the price of milk in Sindh province and directed provincial authorities to take appropriate measures to ensure stability in the price of milk. The Ministry of Industries and Production submitted a summary on grant of arrival/priority berthing of TCP’s Urea vessels at Karachi Port Trust . Considering the urgent requirement of Urea in the country, the ECC approved the proposal.

Saadiq Roshan Digital Savings Account

NPMC also discussed sugar prices in the country and directed Ministry of Industries and Production to expedite the process for building strategic reserves of sugar in the country and maintain stability in prices. The meeting also discussed Fertilizer situation in the country and directed Ministry of NFS&R to formulate strategy in consultation with provincial governments for giving adequate relief to the growers. The meeting expressed satisfaction on availability of daily commodities in Sastaa Bazars on discounted prices. Federal Minister for Privatization Muhammadmian Soomro, Chairman Privatization Commission, Secretary Finance and other senior officers participated in the meeting. Finance Minister Mr. Shukat Tarin highlighted long relationship of ADB with Pakistan and appreciated the role of ADB in extending support to Pakistan during testing times.

The Finance Minister heard all issues keenly and asked SBP and FBR to resolve their issues on priority basis. Chairman APBUMA briefed the Finance Minister on the working of APBUMA and informed that as member wise it is the largest association of SMEs in the country. This sector is one of the major contributors in terms of exports and contributing up to $2 billion in the revenue. He further apprised that the association is currently facing various problems especially related to sales tax refund and liquidity crunch.

Most feasible and pragmatic initiatives have been screened out by the committee members for dealing with inflationary pressure and recommended for further consideration. The Charge de Affaires, in his remarks, shared that Libyan government is aiming at enhancing the bilateral ties especially between businessmen of both the countries. NPMC was also briefed on the prices of Pulses in the country, NPMC was informed that there was stability in Moong prices and witnessed less prices as compared to its prices in the last year.

The meeting also addressed operational issues arising in the easy access and disbursement process of loans and also discussed provision of linking Kamyab Kissan Programme with crop cycle. Government of Pakistan and People’s Republic of China have strong economic ties spanning over the last many decades. The ongoing financing facilities include SAFE deposits, bilateral as well as commercial loans.