FAISALABAD: A dynamic and proactive SME (Small and Medium Enterprises) sector is imperative to give a quantum jump to national economy and in this connection State Bank of Pakistan (SBP) has doubled the loan allocation for this sector from 8 to 16%, said Mr. Muhammad Ali Akbar Deputy Chief Manager SBP Faisalabad.
He was addressing an awareness session organized by Faisalabad Women Chamber of Commerce & Industry (FWCCI) to educate, inform and sensitize its members to further expand their businesses by availing from this facility offered by SBP.
Muhammad Ali Akbar told that the share of SME sector in national gross domestic product (GDP) is currently 30% which could be easily doubled by increasing the loans for this sector. He specifically mentioned the schemes introduced to facilitate the female entrepreneurs and told that in some cases loans will be provided at zero mark up, however, maximum 6% mark up will be charged by commercial banks under the lines provided by SBP.
He told that State Bank has issued directions to the commercial banks to achieve maximum targets of extending loans facilities to the female entrepreneurs. He told that in underserved areas of the country, the women may get small loans up to 1.5 million with zero mark up. “The period of this loan will be 5 years”, he added. Under another schemes the female entrepreneurs could get loans up to Rs.50 million with maximum mark up of 6%. The period of this scheme will be 1 year. He further told that the applications under these schemes would be disposed of positively within 15 and 25 days. He told that State Bank is expecting that this will help in increasing the numbers of SME units from existing 1 Lakh and 70 thousands to 5 Lakhs up to 2020. He told that these schemes will have positive impact on our national economy as induction of female entrepreneurs will give a new impetus to the national growth rate. He told that up till now 150 awareness seminars have been organized while 7 sessions was held in Faisalabad alone.
He urged upon the FWCCI members to avail from this facility in addition to convincing new young and educated girls to enter into this field to earn respectable living in addition to contributing their role in national economy.
A comprehensive presentation on this scheme was also given while Mr. Ali Kamran In charge SME Credit of Alfalah Bank. He explained its salient features in addition to responding to the questions asked by the female entrepreneurs.
Madam Robeena Amjad President FWCCI told that efforts have been expedited to facilitate female entrepreneurs who have potential to expand their existing businesses. She told that Pakistan is facing acute economic crisis and direct involvement of female entrepreneurs will certainly give additional support to the national economy. She appreciated the schemes introduced by SBP and hoped that it will encourage female entrepreneurs to further strengthen their businesses.
A question answer session was also held while Madam Robeena Amjad President presented FWCCI shield to Mr. Muhammad Ali Akbar Deputy Chief Manager SBP Faisalabad.
