UNISAME felicitates SBP for establishing PCGC



The Union of Small and Medium Enterprises (UNISAME) has felicitated the State Bank of Pakistan (SBP) for establishing the Pakistan Credit Guarantee Company (PCGC) and opening its services for the sector.
In a statement, UNISAME President Zulfikar Thaver Wednesday said our dream has come true and this will go a long way in making the banks comfortable in financing the SMEs.
This was much needed as SME exporters will be able to look to nontraditional markets and goods.
The commercial banks, he said were not comfortable in discounting bills for exports to third world countries and through banks of low rating and declined to negotiate letter of credits and paid the exporters the value on receipt of remittance from overseas banks and not before realization.—APP