National Bank of Pakistan President Arif Usmani, here on Wednesday, remarked the current political government was working without any political intrusion; something previous democratic governments in Pakistan had to bear. He added the working environment, at the higher level, was very conducive in Pakistan now as the officials did not have to face political pressures. They did not receive any telephone calls for undue favours, he maintained while talking to journalists at Multan Chamber of Commerce and Industry (MCCI). The president said that after his career of 36 years, he personally believed that this government wanted to bring positive changes in real terms in Pakistan. He noted the autonomy of any institution was necessary for its growth. According to Usmani, NBP was directed to formulate the policies for the banking sector in Pakistan. The present government has tasked us with the responsibility to develop policies for the development of the lower class and middle class to strengthen the overall economy, he continued. NBP President asserted that during the previous governments’ tenures, calls were often received for the provision of loans while even instructions regarding loans to the tune of millions were also given. Usmani asserted that political appointments and political pressures were a part of NBP in the past, however, now things were going in the right direction. “This institute is neither Pakistan Steel Mills nor it is Pakistan International Airlines now and is earning a profit,” he added. NBP directed to formulate policies for banking sector Usmani added that Small and Medium Enterprises (SMEs) had a 40 per cent share in Gross Domestic Product (GDP) of Pakistan. Therefore, a road map had been formulated and soon work would be started for the development of this sector, he announced. The president called out previous governments’ utter ignorance of the support and development of SMEs and their role in the economy as the main flaw in Pakistan’s policymaking. There were said to be 32 million registered SMEs in Pakistan, out of which, only 15000 were working mainly due to lack of government support and persistent policies. He said that the share of livestock in GDP was only 13 per cent but it received a major portion of investment and loans. SMEs were lagging behind because they did not share business details due to fear of taxes and thus failed to get bank loans, Usmani maintained. He assured the business information provided by the SMEs would not be shared with tax authorities as it was their personal matter and the bank had nothing to do with it. “Your data will not be shared with Shabbar Zaidi or FBR”, NBP President added. According to him, SMEs would now have to provide all the required necessary details as it was not possible for them to take loans from us while keeping their business information confidential. The president further said that NBP was trying its level best to provide services in all those sectors where other banks were providing services. Owners of SMEs, industrialists and traders were asked to provide genuine information of demand and supply and investment on a monthly basis to get maximum loans. Our mission is to serve the masses, he claimed. Usmani said the Government had given NBP a big target of providing agricultural loans. He further asserted that all speculations about the lethargic system of NBP and the slow file movement were correct but would not happen in future. Usmani also asked the industrial and trade sector to take long-term loans because it could solve their various problems. Addressing the businessmen, he noted, “Rescheduling loans is your right and this right should be given only to the deserving person.” He admonished those who looted the banks and were living a luxurious life abroad. It is our moral duty to detest their actions, he continued. MCCI President Muhammad Sarfaraz also spoke on this occasion and demanded a simplified process for taking loans for SMEs along with the resolution of other problems. He added the bureaucratic behaviour to acquire agricultural loans should also be changed while the bank should provide practical assistance to exporters for money transfers. Former MCCI President Mian Fareed Mughees Shaikh noted that over three million people were linked with the textile sector in South Punjab. He maintained that an increase in the gas rates and the suggestion to abolish zero-rated facility for the products of the textile sector would lead to loss of exports. Shaikh claimed that long-term policies of five to 10 years were required to develop trade and industrial sector. He demanded the government to provide Long Term Financing Facility (LTFF) for the purchase of local machinery. The ex-president said the government should focus to resolve problems of the leather sector and also work for the prevention of smuggled shoes. All Pakistan Textile Mills Association South Punjab Convener Khwaja Anees and Pakistan Cotton Ginners Association (PCGA) representatives were also present on the occasion.