Meezan to pro­vide small, medium au­to­mo­tive part ven­dors

Pakistan Observer - - ECONOMY WATCH -

AMAN­UL­LAH KHAN KARACHI—Meezan Bank has signed a cor­po­rate part­ner­ship agree­ment with Karan­daaz Pak­istan and Mil­lat Trac­tors Ltd. (Mil­lat) to help pro­vide fi­nan­cial ac­cess to small and mid-size au­to­mo­tive part ven­dors in the coun­try. This tri­par­tite part­ner­ship is part of the USD 50 mil­lion Cor­po­rate Ven­dor and Dis­trib­u­tor Fi­nance Pro­gram launched re­cently by Karan­daaz Pak­istan and Meezan Bank.

Through this cap­i­tal in­vest­ment and ex­pan­sion work­ing cap­i­tal fi­nanc­ing op­por­tu­nity, Mil­lat’s sup­ply chain and dis­tri­bu­tion chan­nels shall grow con­sid­er­ably. As per the agree­ment, Mil­lat, along with Meezan Bank and Karan­daaz Pak­istan, shall iden­tify and direct credit to ven­dors and dis­trib­u­tors with good growth po­ten­tial and sound op­er­at­ing and credit his­tory thus fa­cil­i­tat­ing the lo­cal­iza­tion of au­to­mo­tive parts and broad based em­ploy­ment growth in Pak­istan.

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