KARACHI: Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan chaired a consultative meeting to discuss practical steps for improving access to bank financing for micro, small, and medium enterprises (MSMEs),
Organised by the Small and Medium Enterprises Development Authority (SMEDA), the virtual meeting was attended by representatives of more than 70 SME chambers and industry associations from across the country.
Addressing participants, Haroon Akhtar Khan reiterated the government’s commitment to making bank financing more accessible for small and medium-sized businesses. He revealed that, on the premier’s directives, a working group comprising officials from the State Bank of Pakistan (SBP) has been established to review and simplify the existing SME lending framework.
He said the Ministry, in collaboration with SMEDA, is also conducting a comprehensive assessment of the obstacles preventing SMEs from securing bank loans.
The SAPM disclosed that the prime minister has sought details of businesses whose loan applications were recently rejected by commercial banks. He urged trade bodies to promptly submit information about SMEs that had been denied financing so the government could review their cases.
Haroon Akhtar expressed confidence that coordinated efforts by the SBP, the Ministry, and SMEDA would help make the bank lending process for SMEs more transparent, efficient, and easier to navigate.
He added that the government would also obtain records of rejected loan applications directly from banks to examine the reasons behind the refusals and formulate measures to address the underlying issues.
SMEDA Chief Executive Officer Nadia Jahangir Seth informed participants that the authority has launched a free SME Registration Portal to register businesses nationwide. She said the initiative aims to enable SMEs to benefit from government support programmes, including improved access to financing and other public-sector facilitation services.
Ms Seth assured participants that all proposals and recommendations gathered during the consultation would be compiled and submitted to PM Shehbaz Sharif through SAPM Haroon Akhtar Khan for consideration.
