SBP advises banks to find new avenues

Staff Report

Lahore: State Bank of Pakistan’s (SBP’s) Economic Advisor Dr Abdul Qadeer on Wednesday said that most of the commercial banks will likely face turbulent times if they fail to find new avenues and fresh markets.

Dr Qadeer was speaking at the concluding session of a three-day specialised training workshop on Agricultural and Rural Finance that was organised by SBP’s Agricultural Department. He said some commercial banks had invested heavily in SBP’s low-return treasury bills due to which they could possibly suffer losses in the short run.

He said the purpose of the workshop was not to put pressure on the commercial banks but to encourage them to invest in the farm sector.

Mr Qadeer said National Accountability Bureau (NAB) has created fear among the genuine businessmen and no one was ready to either borrow or provide easy- loans.

“SBP will not make partnerships with banks and will and will also not give new incentives,” he said and added “this is our nation’s dilemma to seek partnerships and incentives due to which we are unable to bear the burden on our shoulders”.

Naib Nazim Lahore District Government Farooq Amjad Mir who was also present on the workshop, assured commercial banks of every possible cooperation.

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