SBP prioritizes easy access to financing for SMEs

SMEs are the backbone of the economy, and financing schemes are being introduced to develop this crucial sector.

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On Saturday, the State Bank of Pakistan (SBP) Governor, Reza Baqir, met with the Sialkot Chamber of Commerce and Industry (SCCI) members. The meeting was called to discuss the export promotion and easy access to financing for small and medium enterprises (SMEs).

According to Reza Baqir, The SBP is taking measures to promote industrialization across the country.

To achieve this goal, the bank is prioritizing export promotion and easy access to financing for SMEs.

During the meeting, Reza stated:

The economy is showing healthy trends, and the macro indicators are getting better day-by-day. The country is moving in the right direction to attain development and prosperity.

Addressing the members of the Sialkot Chamber of Commerce and Industry (SCCI), the SBP Governor said:

Sialkot exporters are playing a pivotal role in strengthening and boosting the economy. The central bank facilitates the trade, industrial and export sectors besides continuing financial reliefs and soft-term easy business-friendly loans.

Reza highlighted the importance of SMEs and explained:

SMEs are the backbone of the economy, and financing schemes are being introduced to develop this crucial sector.

Speaking about the SBP’s new initiative, the Governor said:

The SBP will encourage exporters and SMEs to boom up the national economy by introducing easy financial schemes and trade and export-related incentives.

The SCCI President, Qaisar Iqbal Baryar, responded to the Governor and said:

The Sialkot exporters have been fetching $2.5bn export proceeds annually and deserve more incentives by the SBP.

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