Dr. Arif Alvi, Pakistan’s president, has stated that tyre production will aid in the control of smuggling.
On Monday, he spoke at the opening of a tyre plant in Karachi, expressing his delight that investment is expanding in Pakistan.
Governor State Bank Dr. Raza Baqir spoke on the occasion, saying that the state has launched the Temporary Refinance Economic Facility to support economic activity in the nation, and that loans, particularly for small businesses, are being given priority under this scheme.
He said the country has made a lot of initiatives to attract investment and enhance export through value-adding.
Small business loans are being given priority by commercial banks, according to the Governor of the State Bank, in order to increase business activity in the country.
According to him, this plant is estimated to generate $300 million in yearly exports.