ISLAMABAD-The digitalization of the supply chain will help enterprises in Pakistan to overcome challenges and boost their business, WealthPK reported.
According to experts, Pakistan faces issues in the supply chain owing to traditional and outdated methods. However, the problems can be resolved with the help of modern technology. Deputy Governor of State Bank of Pakistan Dr Inayat Hussain said that the share of small and medium enterprises (SMEs) in private sector financing was declining owing to their preference for the informal sector, which avoided payment of taxes.
Addressing the Cashless Supply Chain Conference, he said that traditional lending methods to SMEs had become increasingly time-consuming and costly. Dr Inayat said that at the end of August, the outstanding loans to private sector businesses were Rs7.1 trillion, representing only 7.96% of the total. “We can only move forward with technology,” he said. He lauded Haball Private Ltd, a business-to-business fin-tech company, for its efforts to digitise the supply chain.
The conference was organised by Haball in collaboration with Meezan Bank to promote its Wisaaq portal, the country’s first end-to-end digital supply chain financing platform. In order to expand business volumes, distributors of fast-moving consumer goods (FMCG) can receive loans secured by assets (inventory) and improve cash flow. As the middle link in the FMCG supply chain, distributors suffer from a chronic cash shortage. Due to delayed...
Read Full Story: https://www.nation.com.pk/19-Oct-2022/digitalisation-of-supply-chain-to-boost-business-sector-in-pakistan
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