Technical body discusses SME issues

KARACHI: The National Financial Inclusion Strategy (NFIS) technical committee held a discussion on the requirements of the SME sector and the support required from the government.

The meeting held at the Heritage Centre of the State Bank of Pakistan (SBP) was chaired by Syed Samar Hassnain, executive director, SBP, and assisted by directors, additional directors and joint directors.

The SBP officials updated the stakeholders on the current initiatives, challenges, implementation plan in line with the government’s 100-day agenda.

The technical committee endorsed the recommendations of the working groups for strengthening the Small and Medium Enterprises Development Authority (SMEDA), facilitating the sector with credit guarantee, SME specific bank, early functioning of Exim Bank, development of new products for SMEs, sharpening risk and collateral management skills of banks, and also emphasised on customer care.

Union of Small and Medium Enterprises (UNISAME) President Zulfikar Thaver informed the participants’ that the SMEs need an SME export promotion bureau to promote export of their wares.

“SMEs contribute to 30 percent of exports and it is pertinent to note that the value-addition is done by SME units engaged in manufacturing different types of goods namely sports, surgical, cutlery, leather, textiles, foodstuffs and many items of geographical indications (GI) importance covered under Intellectual Property Rights,” he explained.