PESHAWAR: Small and Medium Enterprises Development Authority (SMEDA) in collaboration with State Bank of Pakistan (SBP) on Thursday organised a one-day awareness seminar for marble and granite (M&G) sector regarding Refinance Scheme for the Modernisation of SME sector.
Besides, the officials of the SMEDA Regional Office Peshawar, a large number of SMEs particularly from marble and granite sector attended the seminar. During the seminar, the participants were given detailed briefing about the scheme while the SBP was also informed about the reservations of the SMEs during day-to-day matters with the stakeholders.
In 2010, SBP launched Rs7.5 billion worth Refinance Scheme for the Modernisation of SMEs on concessional rate of 6 percent. Under the scheme, the credit was offered for the purchase of new imported plant and machinery for BMR or for setting up new units. However, during the period of last six years, the cumulative disbursement under the scheme has been remained merely Rs316 million. The purpose of the seminar was the creation of awareness amongst both banking sector and marble and granite sector. Speaking to the participants, SMEDA Manager Ishfaq Afridi called for the formation of the scheme specific committee to frame a formal mechanism for resolution of problems in this regard and ensure the implementation of the scheme in the same spirit with which it was announced.
The participants appreciated the efforts of the SMEDA for the bringing of the scheme to lame-light. Similarly, the SMEs also expressed gratitude to the central bank, which in collaboration with SMEDA included the crucial sector for GDP growth in its lending policy. The participants further demanded the holding of similar awareness seminars not only in Peshawar, but also in the far-flung districts like Chitral, Buner, Abbottabad and DI Khan to guarantee the implementation of the SME lending scheme in letter and spirit.
Later, the participants of the seminar in their recommendations proposed that instead of giving deposits targets to commercial banks, the central bank in future should give the target of specified SMEs. They said that the formation inclusion of SME sector in lending policy will usher positive and better results.
