LAHORE, Aug 23 (APP):SAARC Chamber of Commerce and Industry former President Iftikhar Ali Malik said on Sunday that prudent economic policies had started yielding positive results, with lending to small and medium enterprises (SMEs) crossing the Rs.1 trillion mark for the first time during FY2026, registering 37 percent growth over the preceding period. In a statement here,he said the significant expansion in SME financing was a positive development for the …
Expanded SME financing to boost jobs,investment:Iftikhar Malik
LAHORE, Aug 23 (APP):SAARC Chamber of Commerce and Industry former President Iftikhar Ali Malik said on Sunday that prudent economic policies had started yielding positive results, with lending to small and medium enterprises (SMEs) crossing the Rs.1 trillion mark for the first time during FY2026, registering 37 percent growth over the preceding period.
In a statement here,he said the significant expansion in SME financing was a positive development for the national economy, as SMEs remained a major source of employment,entrepreneurship,innovation and economic activity across the country.
He said increased credit availability reflected growing confidence of financial institutions in the SME sector and would enable businesses to expand operations, modernize production facilities, improve productivity and create new employment opportunities.
Iftikhar Ali Malik said SMEs constituted the backbone of the national economy and required sustained policy support, particularly through affordable financing,simplified taxation, digital banking facilities, technical assistance and an enabling regulatory environment.
He urged financial institutions to further streamline lending procedures and introduce flexible financing products tailored to the needs of small businesses,start-ups and emerging entrepreneurs.
Collateral requirements, he added, should also be rationalized to enable viable enterprises with limited assets to access formal credit.
He said enhanced SME financing could also contribute significantly to broadening the country’s tax base by bringing more businesses into the documented economy.
Greater access to institutional credit, he added, would encourage entrepreneurs to maintain proper accounts and adopt modern digital payment and accounting systems.
