Lahore (Commerce Reporter) State Bank of Pakistan (SBP) Governor Dr. Raza Baqir has said that he will consider removing the charges for withdrawing money from ATMs. He expressed this in Lahore Chamber yesterday. In an informal conversation with reporters after addressing a meeting of the business community at the Ministry of Commerce and Industry, it should be noted that at present, customers have to pay service charges for withdrawing money from another bank's ATM. Addressing the function, Banker Raza Baqir said that SBP wants to increase cooperation with the business community and is committed to serve sectors that have not been addressed before, such as SMEs and women entrepreneurs. President Lahore Chamber Mian Tariq Misbah, Senior Vice President Nasir Hameed Khan, Vice President Tahir Manzoor Chaudhry, President SAARC Chamber of Commerce Iftikhar Ali Malik, Former Presidents Mian Misbah-ur-Rehman, Tahir Javed Malik, Abdul Basit, Former SeniorVice President Amjad Ali Java, Khawaja Khawar Rashid, Former Vice President Zeeshan Khalil, Deputy Governor SBP Seema Kamil, Murtaza Syed, Chief Manager, SBP Javed Iqbal Marth, Director Exchange Policy Department SBP Arshad Bhatti and Executive Committee Members of Lahore Chamber The Governor SBP said that the SBP is focusing heavily on digital financial services and is bringing in a system where payments will be made in seconds. He said that the interest rate has come down by 6% and the exchange rate which was earlier fixed or going up is now running in a two-way format. In June 2019, the value of the dollar was Rs 163 which gradually came down to Rs 154. When the currencies came under pressure, the dollar rose to Rs 168 and now stands at Rs 159. Dr. Raza Baqir, while highlighting the steps taken by the State Bank of Pakistan, said that in recent times, the state has taken steps to facilitate businesses affected by COVID-19.The bank has cut interest rates. "We have deferred the actual disbursement of about Rs 650 billion, of which 90 per cent are beneficiaries (microfinance bank borrowers)," he said, referring to the SBP Electronic Credit Information Bureau. The ECIB is considering the demands of the Lahore Chamber and the policy will be announced in the next few days, said Dr. Raza Baqir.Debts of Rs. 200 billion were restructured to help businesses with their markup payments. He said that under the Prime Minister's Employment Finance Scheme, Rs. 232 billion was provided for the salaries of employees. He further said that all the schemes have provided relief of about one trillion rupees. The Governor SBP said that the business (TERF) can get it till March 30, 2021. Under the TERF, they can get long-term loans for 10 years at 5% interest. He said that commercial banks are required to provide 5% of the loan portfolio to Housing Finance by December 2021. This will help 20 to 30 sectors connected to the construction sector. He said that Roshan Digital Account facility is being provided to Pakistanis abroad through which they can open an account without going to the embassy and without verification of any documents. can go. He further said that Pakistanis with assets abroad also have this facilityThe Governor SBP said that Pakistan Credit Guarantee Corporation is being set up through which banks will get 60% risk cover on lending to SMEs. The President of Lahore Chamber of Commerce and Industry said that there are many businesses which could not cancel their bank payments on time due to the current liquidity crisis. His name is Electronic Credit Information Bureau. (ECIB). This makes it difficult for them to get a loan from a financial institution. We request the SBP to relax this condition till June 2021. He said that it has been observed that even after full payment to the consumer banks, their names are registered in ECIB. This is something you need to consider. He added that ECIB data is also available to customers of all banksThe base should be given access to check its status and the banks should inform the consumers before reporting any excessive liabilities to the ECIB and to recover and resolve the debts owed to them. Appropriate time should be given. He said that small traders have suffered a lot in recent times and the SBP should come up with new schemes of interest free loans which would help the traders to revive their business. And banks should develop a workable framework to increase lending in the housing sector. Mian Tariq Misbah said interest rates should be reduced from 7% to 5% compared to regional economies. Regional interest rates (e.g. India 4%, Bangladesh 4.75%, China 3.85%, and Sri Lanka 4).5), he added, adding that the concessions currently provided to the five zero-rated sectors should also be extended to other export sectors. For example, rice, halal meat, processed food, engineering and pharmaceuticals, etc. He said that in the recent scheme of providing loans to pay salaries of SBP employees, banks did not facilitate businesses The loans had defaulted. Since the purpose of this scheme was to support lower class employees and facilitate businesses, we would like to ask you to announce a special scheme for business people which is by default. Nasir Hameed Khan, Senior Vice President, Lahore Chamber of Commerce and Industry (LCCI), said, “We could not avail the credit facility due to shortcomings.We request the SBP to instruct the commercial banks not to ask their clients for affidavits regarding the difference between the declared invoice value and the price. The exercise is hurting the business community a lot. He said that in order to increase our exports to potential untapped potential markets like Russia and Central Asia, formal banking channels should be set up on a priority basis. We will also request the SBP to devise a special mechanism to increase its trade with Iran. Lahore Chamber Vice President Tahir Manzoor Chaudhry said that in 2018, commercial importers will be given an advance payment of 000 10,000. Was allowed to import against. Instead of raising the limit to 000 20,000, as promised, it has not been allowed. Please reconsider this decision.He said that in order to increase our exports to potential untapped potential markets like Russia and Central Asia, formal banking channels should be set up on priority basis. We will also request the SBP to devise a special mechanism to increase its trade with Iran. Lahore Chamber Vice President Tahir Manzoor Chaudhry said that in 2018, commercial importers will be given an advance payment of 000 10,000. Was allowed to import against. Instead of raising the limit to 000 20,000, as promised, it has not been allowed. Please reconsider this decision.He said that in order to increase our exports to potential untapped potential markets like Russia and Central Asia, formal banking channels should be set up on priority basis. We will also request the SBP to devise a special mechanism to increase its trade with Iran. Lahore Chamber Vice President Tahir Manzoor Chaudhry said that in 2018, commercial importers will be given an advance payment of 000 10,000. Was allowed to import against. Instead of raising the limit to 000 20,000, as promised, it has not been allowed. Please reconsider this decision.Manzoor Chaudhry said that in 2018, commercial importers were allowed to import against a 10,000 advance payment. Instead of raising the limit to 000 20,000, as promised, it has not been allowed. Please reconsider this decision.Manzoor Chaudhry said that in 2018, commercial importers were allowed to import against a 10,000 advance payment. Instead of raising the limit to 000 20,000, as promised, it has not been allowed. Please reconsider this decision.
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