State Bank of Pakistan and Small and Medium Enterprises Development Authority agree to make joint efforts for facilitating SMEs’ access to finance

Lahore, April 16, 2013 (PPI-OT): State Bank of Pakistan and the Small and Medium Enterprises Development Authority (SMEDA) have agreed to make joint efforts for facilitating SMEs’ access to finance. It was disclosed by a team of SMEDA financial experts at an in-house meeting with CEO SMEDA Sardar Ahmad Nawaz Sukhera today at SMEDA head office.

The team informed that In line with SMEDA’s new mission to build partnerships for catalyzing growth and development of SME sector, meetings were held last week with senior officials of the State Bank at Karachi to discuss scope of mutual cooperation of the two organizations for enabling SMEs’ access to finance.

SMEDA has identified various instruments that could be developed for increasing SME’s access to finance, including sector specific programme lending schemes as well as mechanisms for building capacity of commercial banks in risk assessment of SME clients.

The SMEDA team while visiting SBP head office also met with Syed Irfan Ali, director, Payment Systems Department to discuss E-Payment Gateway for SMEs in order to promote E-Commerce in Pakistan. SMEs in Pakistan are currently not present on the canvas of multi-trillion dollar cyber economy.

Such initiatives will facilitate SMEs to enter into global cyber economy resulting in better export volumes and entry into new markets. It has been learnt that SBP is developing a policy framework in this regard, which will be shared with stakeholders in the near future.

SMEDA CEO is confident that building partnerships with SBP for facilitating SMEs access to finance will prove to be instrumental in creating new enterprises, scaling up production of existing firms and enhancing competitiveness.

Having assurance and commitment from the State Bank of Pakistan, SMEDA is planning practical measures towards developing synergy with SBP for unleashing the potential of SMEs in Pakistan through facilitating access to finance.

SMEDA is optimistic towards on-going initiatives of the State Bank of Pakistan for SME financing including efforts being made for financial inclusion of the poor.

For more information, contact:
Liaqat Ali Gohar
DGM (Admin. and PR)
Small and Medium Enterprise Development Authority (SMEDA)
6th floor, LDA Plaza, Egerton Road, Lahore
Tel: 111-111-456
Fax: (042) 6304926