LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) Thursday organised an event, in collaboration with the State Bank of Pakistan (SBP), in connection with the Micro, Small and Medium-sized Enterprises Day observance. The day, declared by the United Nations, is marked every year on June 27.
LCCI President Kashif Anwar was the chief guest while Senior Vice President Zafar Mahmood Chaudhry, SBP Chief Manager Tariq Riaz, Senior Deputy Chief Manager Muhammad Tahir, Hamza Talib of State Bank and a large number of industrialists and traders participated in the event. More than 15 banks set up stalls at the event, while Zain-ul-Abidin, Deputy Manager of State Bank of Pakistan Lahore, gave a presentation during the event.
The LCCI president, speaking at the event, said that just as different days were celebrated on different occasion, a business day should also be celebrated because the sector holds significant economic importance. He said that whatever schemes the State Bank launched should be shared with t
he LCCI so that members can be informed about them.
The LCCI president also said that SBP and other institutions should provide maximum facilities, especially for women members. He emphasised that an immediate reduction in interest rates is crucial so that industry can access affordable capital and receive assistance in industrialization.
Kashif Anwar stated that the recent budget would pose challenges for industry and policy makers should consult stakeholders. He highlighted that Lahore Chamber is fulfilling social responsibilities in an excellent manner. Lahore Chamber of Commerce and Industry has signed MoUs with educational, medical, and other institutions aimed at providing maximum facilities for members.
SBP Chief Manager Tariq Riaz said that Micro, Small and Medium-sized Enterprises Day is celebrated globally to acknowledge the successes of entrepreneurs. He mentioned that every country is prepared to give facilities to entrepreneurs because they play a significant role in providing employment and p
romoting national development. He said that the entire banking community is gathered at Lahore Chamber to honor entrepreneurs because they are providing 78pc of the total employment in Pakistan.
He further explained that 90pc of industry in Pakistan is comprised of Small and Medium-sized Enterprises (SMEs), which play a crucial role in running the country’s economy. Tariq Riaz added that events for SMEs will continue throughout the week in banks and various institutions, aimed at providing assistance and information to meet the financial needs of entrepreneurs.
The purpose of organizing this event, he said, is also to empower women, urging them to come forward and play a significant role in the business sector so that they can manage businesses when needed. He mentioned that the government and State Bank have introduced several schemes for women, including easy loans of up to fifty million rupees at five percent for five years. Similarly, the SMES Easy Finance Scheme has also been implemented, and the BMR S
MES Scheme has also been introduced, which will provide a loan of up to two hundred million rupees at ten percent mark-up for ten years. He said that schemes have been introduced for the import and local purchase of machinery and related persons.