DUTCH COMPANY TO PROMOTE COLLATERAL MANAGEMENT IN PAKISTAN

Saybolt Pakistan basically a Dutch company having world wide laboratories is now launched in Pakistan and is committed to serve the small to medium sized entrepreneurs (SMEs) for pre-shipment inspection (PSI) and collateral management under warehouse receipt financing (WRF) for textiles, produce items, petroleum, foodstuffs, engineering goods and general merchandise.

Abdul Shakoor Shaikh head of agri Saybolt Pakistan said that Saybolt is a globally renowned company he added that “To serve our clients in the best possible way and we continually strive to remain the fastest laboratory and inspection company in the world. We focus our resources to stay ahead of the competition in terms of know-how, instrumentation and logistics. It is in our DNA to be accurate, reliable and safe. It is the only way to collect the data required for a solid base of sound decisions. Speed is the key performance indicator in an ever changing, volatile and finance driven world. Timely decisions prevent costly consequences. In this way we can do an outstanding job for our clients.” Time is money he emphasized.

Zulfikar Thaver chief executive officer (CEO) SMILE Pvt Ltd an SME facilitation company said collateral management under WRF is the need of the hour as it can resolve the SME financing issues as it would be asset based financing and would facilitate the SMEs from the farm to the final destination both domestic and international. He explained that collateral management also includes logistics, warehousing, shipping, insurance and distribution.

He urged the commercial banks in Pakistan to lend support to the system of collateral management which in other words makes the banks comfortable and reduces their risk.

SMILE Pvt Ltd would act as the facilitator and enable the entrepreneurs to obtain finance under WRF from commercial banks for goods placed in the warehouses as collateral managed by Saybolt Pakistan who would inspect the goods, the warehouses, be the custodian and provide logistics from warehouse to warehouse.

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