ISLAMABAD - The business community on Saturday asked the govt to ensure easy access of loans to the private sector, which fell by Rs100b during first half (July to Dec) of the ongoing fiscal year.

A recent report by the SBP showed that loans taken by the private sector fell by 28 per cent or Rs100 billion in July-December period on annual basis. Advances to the private sector during this period were Rs253b compared to Rs353b a year ago. “The FPCCI should work with the government to ensure for private sector easy access to credit so that it could expand and play more significant role in the economic development of the country,” said Sheikh Amir Waheed, President Islamabad Chamber of Commerce and Industry, in a meeting with newly elected President of FPPCI Ghazanfar Bilour.

Bilour has assured that he would work hard for resolving the major issues of business community of the entire country so that business activities could flourish and achieve better growth. He said that private sector was playing leading role in the development of Pakistan’s economy and called upon the government to take measures in consultation with FPCCI for creating a conducive environment so that private sector could further grow and play more effective role in strengthening the economy.

He said he would consult with all trade bodies and associations on major issues of business community to finalize FPCCI recommendations for the government. He also stressed upon the chambers and associations of the country to start preparing budget proposals and send them in time to the Federation so that a comprehensive document of budget proposals could be given to the government.

He lauded the role of ICCI for promoting the interests of business community of the region and assured that he would fully cooperate with it in resolving key issues of trade and industry of the federal capital.

Sheikh Amir Waheed hoped that newly elected president would make FPCCI more effective apex trade body of the country. He assured that ICCI would fully support FPCCI in its endeavors aimed at promoting Pakistan’s business and economic interests.