SBP asks banks to resolve businessmen's issues.

Faisalabad contributes 20 percent to the national economy and local businessmen must fully utilise the incentive schemes introduced by the State Bank of Pakistan (SBP) in the wake of coronavirus to expedite the process of industrialisation, said SBP Governor Reza Baqir.

Speaking in a meeting with the business community at the Faisalabad Chamber of Commerce and Industry (FCCI) to create awareness of the incentive schemes, Baqir said despite a huge share in the national economy, the response of Faisalabad's business community to the SBP schemes was poor.

The governor stated that commercial banks avoided out-of-the-box solutions to the problems but in a pandemic-like situation these became imperative and "we are also encouraging them to resolve the issues so that negative impact of the coronavirus could be controlled and compensated as early as possible."

Baqir told the business community that the new SBP deputy governor was working on various schemes including agricultural finance, female entrepreneurs and digitalisation. "These schemes will give...

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