Call for ensuring smooth implementation of SME finance policy

KARACHI, Jan 04 (APP): The Governor State Bank of Pakistan
(SBP) Tariq Bajwa, has urged business community and banks to
ensure smooth implementation of SME finance policy.
“I believe that with active support of business community
and banking sector, SME finance policy recently launched by the
Prime Minister will achieve its desired objectives”, he said
while chairing a meeting held at SBP (BSC) Sukkur.
The meeting was attended by the presidents, vice presidents
and general secretaries of chambers of commerce and trade
associations of Sukkur, Ghotki, Shikarpur, Larkana, Kashmore,
Qambar, Jacobabad and Naushahro Feroze. Regional heads of all
commercial/Islamic and microfinance banks operating in these
areas were also present, says a SBP statement.
Highlighting the consultative process adopted while
formulating SME finance policy, the Governor underscored the
significance of its smooth implementation and successful
execution.
He further said that effective communication of this policy
at grassroots level will require number of awareness sessions at
different locations in Pakistan.
He went on to add that SBP will conduct outreach programs to
create awareness in collaboration with chambers regarding SME
finance policy.
Bajwa emphasized upon the importance of key priority sectors
in economic development of the country. He explained that
Agriculture, SME and low cost housing remain top priority sectors
to SBP.
He elaborated the importance of SME sector and explained
that recently launched policy for promotion of SME finance
comprises of measures which will help in boosting SME financing.
These measures include improving regulatory framework,
upscaling of micro finance banks, risk mitigation strategy,
simplified procedures for SME financing, program based lending &
value chain financing, capacity building & awareness creation,
handholding of SMEs, leveraging technology and simplification of
taxation regime.
Representative from chambers and trade bodies appreciated
the efforts of SBP and assured their full cooperation and
effective implementation of this policy.
Qasim Nawaz, Managing Director, SBP (BSC) and Syed Samar
Hasnain, Executive Director along with senior SBP officials were
also present on the occasion.