The Bank of Punjab (BOP) and MIA Group of Companies (MIAGC) have signed a Memorandum of Understanding (MoU) for supply chain financing under Prime Minister’s Kamyab Jawan Youth Entrepreneurship Scheme. Under the arrangement, The Bank of Punjab will provide subsidized business loans to top rated vendors and distributors of MIAGC.
The MoU signing ceremony was hosted at MIAGC’s headquarters. Group Head Bank of Punjab Asif Riaz and Chairman and Founder MIA Group of Companies Mr. Muhammad Ashraf signed and exchange the documents at the ceremony. BOP’s delegation was led by Mr. Asif Riaz, and included senior executives of the bank. Mr. Osman Ashraf, CEO MIAGC and other senior company officials were also present at the occasion.
Chairman MIA Group of Companies Muhammad Ashraf termed the MOU a great success and added that under the agreement, the Company will work closely with Bank of Punjab to use financial assistance to empower youth and promote business activities in the region.
Mr. Mehmood Akhtar Regional Sales Manager (North) while talking to Engineering Post said “This initiative by MIA group will offer growth opportunities to many Small & Medium Enterprises and lead to increased employment opportunities.”
MIA group is a conglomerate of white goods (Consumer Durables) and internationally recognised energy brands including DIAKIN, ACSON, Green Air, CAREL, Clint, Thermax and VOLVO Penta with an experience of over 20 years and strong business network spread over 12 cities.