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ABL for liberal loans to small enterprises

RECORDER REPORT

KARACHI: The Allied Bank will provide loans more liberally to small and medium size trade, industry, agriculture and other business ventures.

In a meeting on Monday, the Executive Committee of ABL observed that extending more loans meant generating more business activity and help in the revival of the economy.

The ABL President, Rashid M Chaudhry, who chaired the meeting, said that the recent cut in the mark-up rates by 2 percent should be used as leverage to pass on the benefit to trade, industry and other commercial concerns.

He also advised his officers to open more counters to facilitate the people standing in long queues to deposit their utility bills.