RAWALPINDI: President of the Rawalpindi Chamber of Commerce and Industry (RCCI), Usman Shaukat, has called on commercial banks to significantly increase financing for Micro, Small and Medium Enterprises (MSMEs), describing them as the backbone of Pakistan’s economy and a key driver of employment, innovation and exports.
Addressing the World MSME Day 2026 ceremony at Chamber House, organized jointly by the Small and Medium Enterprises Development Authority (SMEDA) and RCCI, he said MSMEs currently receive only 7 percent of commercial bank lending, despite their immense contribution to economic growth. “It is time for commercial banks to play a more proactive role in supporting MSMEs. Investing in small businesses is investing in Pakistan’s economic future,” he remarked.
The event was attended by Rizwan Khaleel Shamsi, Chief Manager State Bank of Pakistan, Rawalpindi, RCCI Senior Vice President Khalid Farooq Qazi, Vice President Fahad Barlas, District Officer SMEDA Mohammad Asghar Nasar, representatives of trade associations, financial institutions, academia, women and young entrepreneurs, and members of the business community.
Speaking on the occasion, Mohammad Asghar Nasar highlighted SMEDA’s ongoing initiatives, including business development services, entrepreneurship support, policy advocacy, export promotion, access to finance facilitation and capacity-building programs aimed at strengthening Pakistan’s MSME sector.
Participants discussed key challenges facing MSMEs, including access to finance, business formalization, digitalization, exports and regulatory hurdles. The ceremony concluded with a renewed commitment from all stakeholders to foster an enabling business environment, strengthen entrepreneurship and promote sustainable economic growth through a vibrant MSME ecosystem.
