TERF provide concessionary refinance on 5 percent for manufacturers: Razak

Adviser to Prime Minister for Commerce and Investment, Abdul Razak Dawood on Wednesday informed that the Temporary Economic Refinance Facility (TERF) providing long-term concessionary refinance at 5% for manufacturers and exporters has shown excellent results.

This scheme will come to an end on March 31, 2021; the adviser said this on his official twitter account.

He said that this scheme had brought substantial investment into Pakistan through the purchase of imported and locally manufactured plants and machinery for setting up new projects.

The adviser said that this clearly showed willingness of our business community to invest when government had the commitment through good policies.

Razak Dawood said that TERF had shown significant growth over the last 9 months as reflected by increase in requested amount from Rs 36.1 billion by end-April 2020 to Rs 610.2 billion by Jan 07, 2021, while over the same period approved financing has reached to Rs 293.5 billion from Rs 0.5 billion.