SBP starts campaign to create awareness on SME financing

Will educate entrepreneurs regarding subsidised bank financing facilities available

Our Correspondent March 14, 2019
Representational image. PHOTO: REUTERS

KARACHI: The State Bank of Pakistan (SBP) kick-started a four-day campaign on Wednesday to educate small and medium-sized entrepreneurs (SMEs) about subsidised bank financing facilities available to them for scaling up production and exports.

“The State Bank has put in place a number of refinance facilities, both for the purchase of plant and machinery for SMEs and working capital finance for special sectors,” said SBP Executive Director Syed Samar Hasnain in a meeting with manufacturers and exporters belonging to SME sectors in Sialkot, according to a SBP press statement.

He encouraged the SMEs to avail SBP’s refinance facility for renewable energy to overcome power problems. These enterprises can also use SBP’s subsidised refinance facility for setting up silos, cold storage facilities and warehouses, he added. The SBP executive director said banks have been instructed to extend maximum financing facilities and related information to them under the existing SME policy and guidelines.

Besides, he urged SMEs to take a step ahead and approach the nearby bank branches to inquire about such facilitates.

The statement said the awareness sessions were attended by representatives from associations including Pakistan Sports Goods Manufacturers and Exporters Association, Pakistan Gloves Manufacturers and Exporters Association, Leather Garments Manufacturers and Exporters Association, Pakistan Hosiery Manufacturers and Exporters Association and Pakistan Cutlery and Stainless Utensils Manufacturers and Exporters Association in Sialkot.

Regional heads, SME heads and branch managers of all banks operating in the region also participated in these meetings. Chief Manger SBP Sialkot was also present on the occasion.

Published in The Express Tribune, March 14th, 2019.

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