Seminar on Islamic Financing Facility for Renewable Energy

Sialkot, December 10, 2019 (PPI-OT): On December 10th, 2019, the Sialkot Chamber of Commerce and Industry in collaboration with Meezan Bank Ltd, and State Bank of Pakistan conducted a seminar on Islamic Financing Facility for Renewable Energy (IFRE) and clarity on misconception related to Islamic Banking within the Exports Industry of Sialkot.

While presiding the seminar, President SCCI Mr. Muhammad Ashraf Malik appreciated the State Bank of Pakistan for launching such schemes that would encourage the transformation of Industry to Green Energy, which would enhance the cost-effectiveness of the products of Sialkot Industry in foreign markets. He also said that the credit facility available to the exporters for installation of Solar Energy Project of worth 400 Million Rupees on up to 6 % profit per annum, was an overwhelming step. He further requested the competent management from Commercial Banks as well as the Central Bank of Pakistan to further lessen the amount of project that would be charged to the company, availing this facility.

President SCCI also appreciated the exemplary step taken by Honourable Prime Minister of Pakistan i.e. to provide 50 lac houses to underprivileged and lower middle class of the society, under strict merit in Naya Pakistan Housing Scheme project. He added that it was a harsh reality that a lot of underprivileged people were deprived of the facility of their own house, and the project would help such people to get their own house under the housing project.

The Chairman Prime Minister Housing Project Task Force, Mr. Zaigham M. Rizvi, Director General Punjab Housing and Town Planning Agency Mr. Liaqat Ali Chatha, Senior Advisor and Chief Executive Officer and President Meezan Bank Limited Mr. Najam ul Hassan and other officials were also present.

President Meezan Bank Ltd including other officers while speaking to the seminar clarified the misconceptions related to the Islamic Banking and gave an introduction to financing facility on Solar Energy Projects, Mr. Zaigham M. Rizvi Chairman Prime Minister Housing Project Task Force, gave a brief introduction to the participants of the seminar on Naya Pakistan Housing Project in which 50 lac houses would be given on a transparent and merit basis facility to the real needy people. Mr. Liaqat Ali Chatha Director-General PHATA said that the Government of Punjab could also have joint ventures with the exports Industry of Sialkot for the establishment of labour colonies in Sialkot for the worker of the Industry.

For more information, contact:
Sialkot Chamber of Commerce and Industry (SCCI)
Shahrah-e-Aiwan-e-Sanat-o-Tijarat, Sialkot – 51310, Pakistan
Phone: +92-52-4261881-3
Fax: +92-52-4268835, +92-52-4267919
E-mail: sialkot@scci.com.pk
Website: http://www.scci.com.pk