Governor State Bank of Pakistan (SBP) Tariq Bajwa has said that efforts were being made for the promotion of SME sector of the country. Addressing at a seminar on SME Banking Products and Projects jointly arranged by Sialkot Chamber of Commerce and Industry (SCCI) and the Institute of Bankers Pakistan (IBP) held at Chamber, he said that SME sector is playing an instrumental role in strengthening the national economy only but also providing employment opportunities to a large number of workers.
Tariq further stated that three-point SBP initiatives will support SME financing mainly included improving regulatory framework through revising prudential regulations, strengthening secured transactions framework and introduction of SME targets, market development through SME supportive subsidized refinance schemes, risk coverage scheme, Islamic SME financing, cluster survey and non financial advisory service and improving capacity building and awareness creation of bankers and SMEs.