Prime Minister directs banks to expand easy loans for SMEs

Prime minister on Monday directed relevant authorities to speed up steps to ensure banks and other financial institutions provide loans to small and medium-sized enterprises on easier terms, according to a Prime Minister’s Office press release.

Directive was issued during a meeting on Small and Medium Enterprises Development Authority’s business plan for promoting small and medium-sized businesses, where a three-year roadmap for SME growth was presented.

The meeting was briefed on challenges faced by SMEs, proposed actions to address them, and a strategy to link SMEs with national exports, the press release said.

Officials said SMEDA has been holding capacity-building sessions for small businesses in six cities and is running training programmes aimed at helping firms meet requirements for competing in overseas markets. The meeting also reviewed steps to bring more women into the SME sector, and was attended by federal and provincial representatives, SBP governor and SMEDA’s newly elected board members.