Out Of 3.2 Mln SMEs, Only 180,000 Availing Bank Finance, Says National Bank Of Pakistan Staff College Director

Director Staff College, National Bank of Pakistan (NBP), Sultan Mahmood said on Monday that around 3.2 million SMEs were registered in the country, however, only 180,000 of them were availing financing facility from banks

MULTAN, (UrduPoint / Pakistan Point News - 16th Sep, 2019 ):Director Staff College, National Bank of Pakistan (NBP), Sultan Mahmood said on Monday that around 3.2 million SMEs were registered in the country, however, only 180,000 of them were availing financing facility from banks.

He was speaking at a seminar titled SMEs Finance certificate for Loan at Multan Chamber of Commerce and Industry (MCCI).

Small and Medium Enterprises (SMEs) sector was contributing 78 per cent of the jobs in industrial sector, Mahmood said, adding that its contribution was 35 per cent in preparation of value added products and 25 per cent in exports.

He said that government was striving hard to meet financing requirements of SME sector on softer terms and this four-day seminar was organized for orientation of those associated with SME sector and to award certificates to them.

The holders of these certificates would be given preference in extending finance facility and would also be given assistance in file preparation and training.

NBP regional head Nasir Abbas said that loan seekers may face difficulty on first attempt as bank also needed to secure its money.

He added that NBP had almost all the financing schemes for every kind of SMEs.

He said that SME help desk were operational at NBP main branches and regional offices.

State Bank of Pakistan (SBP) Multan official Sana Zahra said that such seminars would help promote SMEs and added that special quota of loans had been allocated for under developed areas particularly Balochistan province.

During question/answer session, NBP corporate head, and other officials said that Prime Minister's 'Kamyaab Jawan' scheme would be launched soon. It had been proposed that young entrepreneurs should be offered loans in two categories, from Rs 50,000 to Rs 500,000, and from Rs 500,000 to Rs 5 million for a period of ten years at six per cent mark up.

MCCI president Muhammad Sarfraz said that banks should simplify loan procedures and speed up their services to promote business and industry.