|
As
you are aware that the Government has been endeavoring to
revamp various sectors of the economy to achieve economic
growth as also higher export earnings. In order to supplement
government’s efforts in this regard it has been decided to
put in place a system thereby ensuring credit availability
by Small Business Finance Corporation (SBFC) for locally manufactured
AUTO / AIRJET / SHUTTLELESS
LOOMS as also accessories thereof.
The terms and conditions of the Scheme are attached
herewith.
2.
The new arrangements are expected to enable the manufacturers
to provide their machinery at a reduced rate to the Small
Medium and Emerging Enterprises pertaining to above sector,
presently having less than adequate access to the bank credit
primarily for want of securities to the satisfaction of their
bankers. Additionally the aforesaid arrangements would also
result into increase in exportable
surplus.
3.
The
financing under the new arrangements shall be made through
Small Business Finance Corporation only.
Please
acknowledge receipt.
|