Promoting SME sector helpful for impressive economic growth: Leila

ISLAMABAD, Nov 23 (APP): Chairperson Prime Minister’s Youth
Programme (PYP), Leila Khan Wednesday said promoting small and
medium enterprises (SMEs) sector would be beneficial for better
economic growth of country.
“We can achieve impressive economic growth by promoting SME sector in the country”, she stated while chairing a meeting on Prime Minister’s Youth Business Loan Scheme with a team of Ministry of Finance and State Bank of Pakistan.
She appreciated efforts of State Bank of Pakistan for introducing
online data sharing portal for all executing banks of Prime Minister’s Youth Business Loan Scheme to avoid duplication of applicants or guarantors in applying for loans under this initiative.
All the 18 executing banks of the scheme including National Bank of
Pakistan, First Women Bank Limited, Habib Bank Limited, Habib Metropolitan Bank, Bank Al Habib, Sindh Bank, Summit Bank, Soneri Bank, Meezan Bank, Al Baraka Bank, Dubai Islamic Bank, Allied bank Limited, Muslim Commercial Bank, JS Bank, United Bank Limited, Askari Bank, Faysal Bank, and Bank Alfalah can verify data of applicants or guarantors by punching in their Computerized National Identity Cards (CNIC) number in the online portal, she said.
This step would greatly enhance transparency of the scheme and
ensure its outreach to the maximum number of beneficiaries.
So far, more than 9000 loans worth over Rs 9
billion had already been disbursed under the scheme, she informed.