MULTAN: About 5.2 million Small and Medium Enterprises (SMEs) play an important role in strengthening the country’s economy by contributing 40 percent of exports and job opportunities to 78% industrial workers.
This was stated by Assistant Director State Bank of Pakistan Kiran Amjid while addressing an awareness seminar, arranged by All Pakistan Bed Sheets and Upholstery Association in collaboration with a leading private Bank.
Ms. Amjid passionately pointed out that out of the colossal 5.2 million SMEs operating in the country, merely six to seven percent are currently benefiting from loans provided by financial institutions.
She emphatically emphasized that this number could soar to new heights, allowing these SMEs to further amplify their businesses.
She noted that the current lending situation in the country falls short when compared to other developing nations.
Ms. Amjid enlightened the attendees with the incredible news that loans were readily available under the Prime Minister Youth Business and Agriculture Loan Schemes, offering flexible terms that were both convenient and affordable.
A significant 25 percent of these loans have been earmarked specifically for women entrepreneurs, heralding a new era of inclusivity and empowerment.
The seminar, graced by representatives of APBUMA and a leading private bank, shed light on the immense potential of SMEs and the boundless opportunities they hold for nation’s economy. It is a beacon of hope and an invitation to SMEs across the country to seize these opportunities and play an even more significant role in our nation’s growth and prosperity, they stated.