PESHAWAR (APP) - Sarhad Chamber of Commerce & Industry (SCCI) has asked the State Bank of Pakistan (SBP) and commercial banks not to charge higher mark-up on loans than 7.5pc fixed under the financial package announced by the PM. The trade body has asked the central bank for issuance of formal notification in this regard. This was stated by president SCCI, Riaz Arshad while addressing a meeting held on the occasion of the Director SMEF, Department, State Bank of Pakistan, Mansoor Hassan Siddiqui. Those present on the occasion were included Chief Manager, SBP services, Tasleem Qazi, Chief Manager, SBP, D.I. Khan Sajjad Ali Shah, vice president, SCCI Faiz Mohammad Faizi, former presidents, SCCI, Ghulam Sarwar Khan Mohmand, Adeel Rauf, Malik Niaz Ahmad, Sufi Bashir Ahmad Durrani, former president, Industrialists Association, Peshawar, Nauman Wazir, Engineer Maqsood Anwar Pervez, executive members SCCI, regional chiefs of different commercial banks and large number of industrialists and traders. The SCCI chief said that the commercial banks hesitating in lending in the province has no right to operate their branches. He called for immediate stoppage of the closure of the branches of such commercial banks. Riaz Arshad said that the commercial banks are hesitating in the implementation of the incentives announced under the PM Relief Package for the revival of the economic activities in the terrorism affected province. He said that the central bank has also not issued formal notification in this regard so far. He made it clear that they will never pay a single penny more than the mark-up rate of 7.5 per cent as announced by the PM. He requested the central bank to resolve the matter with the commercial banks by itself. He said that commercial banks are playing no role in disbursement in the province including its provincial metropolis Peshawar. He said that such commercial banks are eyeing only collection of deposits. He said that presently the commercial banks are lending Rs.1.7b in the province against its share of 13 per cent in the National Finance Commission (NFC) Award. He expressed dissatisfaction over the release of loans up to Rs.0.5m for small traders and called for increase in it. Riaz Arshad further demanded authorizing regional heads of the commercial banks for issuance of soft loans up to Rs.30 to 40 million. On this occasion, Director, SBP, Mansoor Siddiqui told members of the Sarhad Chamber about Credit Guarantee Scheme in SME sector. Facility of refinance, refinance on agricultural loans and guarantee scheme. He said that the central bank has issued directives to commercial banks for the release of soft loans to SME sector.