Number of active SMEs in Pakistan reaches 5.2 million
Approximately 5.2 million small and medium enterprises (SMEs)
are currently active in Pakistan, constituting 20% of the country's GDP. The
State Bank of Pakistan (SBP) is planning to significantly increase loan
disbursement to this sector, more than doubling the current levels, with the
aim of boosting national economic growth.
Officials from SBP in Multan made these statements during a
seminar organized by SBP at the Multan Chamber of Commerce and Industry (MCCI).
The seminar aimed to raise awareness among SMEs and women entrepreneurs about
various banking facilities, including refinance schemes, credit guarantee
programs for women entrepreneurs, and the Prime Minister's Youth Agriculture
Financing scheme for renewable energy. These initiatives are designed to help
SMEs and women entrepreneurs make their business and industrial activities more
productive and profitable in line with modern practices.
MCCI President Mian Rashid Iqbal expressed gratitude to SBP
Multan for their awareness initiative, which empowers women entrepreneurs and
encourages potential investors to take advantage of government schemes to boost
the national economy. Assistant Director SBP Multan, Kiran Amjad, provided
detailed information to participants, highlighting that SMEs currently receive
only 6-7% of the total loan volume. However, recognizing their importance, SBP
is taking steps to increase soft-term loan disbursements to SMEs to 17%. Kiran
Amjad also mentioned that easy loan schemes have been launched, and SBP aims to
achieve this target in collaboration with commercial and Islamic banks.
She further explained that small-scale businesspersons can
access loans of up to Rs 150 million, while medium-scale investors can obtain
loans of up to Rs 800 million, all at a low markup rate of 5-7%. SBP has set a
monthly loan disbursement target of Rs 100 million for commercial and Islamic
banks. Kiran Amjad assured SMEs that they can approach SBP if they encounter
any issues with their loans, promising that their problems will be resolved.
Kiran Amjad emphasized that 25% of this loan disbursement is
allocated exclusively for women entrepreneurs, who can avail of this facility
with a personal guarantee. MCCI President Mian Rashid Iqbal welcomed the
attractive loan schemes, hoping that these capacity-building and awareness
sessions will continue in the future. MCCI Senior Vice President Syed Iftikhar
Ali Shah praised the loan schemes but suggested making the facility accessible
to all small and medium-scale businesspersons, allowing them to upgrade their
businesses and contribute to national development.
Source: The Nation