SCCI welcomes BVMW-Germany’s interest-free loan facility for KP

PESHAWAR: The president of the Sarhad Chamber of Commerce and Industry Fuad Ishaq welcomed BVMW –Germany for extending an interest-free loan facility to Khyber Pakhtunkhwa.

Fuad Ishaq said that the move would boost business and industrialization and create employment opportunities in the province, which will start a new era of economic prosperity and progress.  

He made these remarks while talking to a delegation of German investors, which was led by country representative of BVMW, Mathew D. Shaw, at the chamber house on Wednesday.

The delegation consisted of the chairman of Max holdings Max Shaw, the senior advisor to SCCI Riffat Pervez, Business Consultant Amin Ahmad and Executive Assistant Areej Yousaf Ahmad AMONG others.

The SCCI senior vice president Sanaullah Khan, vice president Ijaz Khan Afridi, former president Zulfiqar Ali Khan, secretary general Sajjad Aziz and other staff members were also present during the meeting.

Mathew Shaw, the country representative of the BVMW briefed the meeting about interest-free facility of 10 million euro to the business community of Khyber Pakhtunkhwa under which the provision of technical assistance, skill training programs, equipment and machinery will also be ensured.  

Mr. Faud Ishaq stressed the utilization of the €10 million loan for on-job training in the province. The president emphasized the need for taking Pakistan’s products to an international level, which will improve the demand of Pakistani products in the European market and would also increase Pakistan’s exports.

He also suggested that a forward exchange rate should be fixed as some companies were facing difficulties due to the high exchange rate. Fuad Ishaq said that KP is the golden gate to Afghanistan and Central Asian Republic countries wherein foreign investors would get access to the Central Asian markets through collaboration with KP companies and businessmen and can play a role in enhancing mutual trade volume between the two countries.   

The SCCI chief invited German investors to make investments in oil, gas, hydel power generation, mine and mineral, marble tourism, gems and other important sectors through joint ventures.

Later, the chamber office bearers and former president Zufiqar Ali Khan also spoke on the occasion and gave several proposals regarding improving bilateral trade between Pakistan and Germany.