Calls for Lower Interest Rates and Business-Friendly Policies
The business community in Khyber Pakhtunkhwa (KP) has called on commercial banks to provide soft loans for small and medium enterprises (SMEs) and to improve their lending ratios to facilitate traders. They emphasized reducing interest rates to a single digit and urged the government and financial institutions to adopt business-friendly policies to revitalize trade, create jobs, and ensure sustainable economic growth in the region.
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The concerns were raised during an awareness seminar on Islamic Banking, organized jointly by the Sarhad Chamber of Commerce and Industry (SCCI) and the State Bank of Pakistan (SBP). Qazi Abdul Samad delivered an insightful presentation on Islamic banking’s role, while SBP Chief Manager Waqar Ali outlined initiatives aimed at promoting awareness and enhancing the outreach of Islamic banking.
SCCI President Fazal Moqeem criticized commercial banks for marking KP as a “red zone,” resulting in a low lending ratio despite significant deposits from the region. He stressed the urgent need for accessible loan facilities to promote business and industrial growth, highlighting the discrimination faced by the province’s business community.
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