FAISALABAD: The State Bank of Pakistan (SBP) should provide long-term loans without collateral at 3pc to women entrepreneurs in order to ensure their active participation in the national economy.
This was demanded by Imran Mehmood Sheikh, Central Chairman All Pakistan Bedsheet and Upholstery Manufacturers Association (APBUMA).
Addressing an awareness session, organised by the SBP in connection with World Women Entrepreneurship Day, he said that the ultimate objectives of such events are to encourage women to become active participants of the national building process instead of becoming a burden on society.
SBP governor for supporting women entrepreneurs in Pakistan
He particularly underlined the role of Small & Medium Entrepreneurs (SMEs) and said that APBUMA is one of the largest representative bodies of the SMEs with 600 members out of which 350 belong to Faisalabad alone.
He said that high mark-up has become a threat to the existence of small and medium entrepreneurs as most of the businessmen have limited financial resources.
“High markup coupled with inflation has eroded their financial viability”, he said, adding that the SBP has successfully motivated the women entrepreneurs by offering them loans at subsidized rates but these are insufficient and SBP should revisit its existing policies particularly about the women entrepreneurs belonging to the SME sector.
He said that the government should dispel apprehensions of the exporters and formulate policies according to the ground realities.
He also stressed the need to enhance efficiency of commercial banks so that they could actively support the exporters.
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