President Dr. Arif Alvi has said that manufacturing of tyres in Pakistan will help control smuggling.

Addressing the inauguration ceremony of a tyre factory in Karachi on Monday, he expressed pleasure that investment is increasing in Pakistan.

The president said establishment of this factory is the result of joint efforts of Chinese and Pakistani investors.

Speaking on the occasion, Governor State Bank Dr. Raza Baqir said that state has bank introduced Temporary Refinance Economic Facility to boost business activities in the country and loans particularly for small business are being given through this scheme on priority basis.

He said a number of steps have been taken to attract investment and promote export through value-addition in the country.

The Governor State Bank said that loans are being given through commercial banks for small business on priority basis to boost business activities in the country.

He said that annual export of three hundred million dollars is expected through this factory.

Source: Radio Pakistan