State Bank of Pakistan (SBP) Managing Director Qasim Nawaz has said that the SBP will continue its tradition to promote the small and medium enterprises (SMEs) for boosting the national economy.

Addressing “SMEs Finance Mela 2015”, he said that the SMEs had been playing a backbone role in the national economy as they not only employ tens of millions of workers but also act as impetus for the corporate sector.

At the event held under the auspices of the SBP in active collaboration with Sialkot Chamber of Commerce and Industry (SCCI), the SBP managing director added that SBP will continue to facilitate the SMEs, enabling them to struggle hard for boosting the national economy with full devotion and dedication.

Nawaz said that the SMEs sector was striving hard to maintain its upward momentum. He revealed that SBP aimed at increasing outreach of SMEs finance through participating banks to transform it as engine of growth. He said that the event was one of the series of events that SBP was organising to bring solutions and thus creating an enabling environment for the sector to achieve the goal of sustainable prosperity through affordable financing.

Earlier, the SBP managing director inaugurated the SME Finance Mela 2015. He was flanked by the representatives of the Sialkot Chamber of Commerce and Industry (SCCI), commercial banks and other financial institutions.

On the occasion, SCCI President Mansur Ahmed said that the exporters were roaming ambassadors who travel all around the world to fetch business and with their personal efforts. He added the export earnings of Sialkot stand at US $ 2 billion annually. He said that the exporters had been earning precious foreign exchange to the tune of US $ 2 billion annual and playing a pivotal role in strengthening the national economy and boosting the national exports.

The SCCI president gave briefing on Sialkot’s unique export culture and marvelous socio-economic development on self-help basis. He said that export-oriented Sialkot city has successfully followed the examples of Japan, Germany, Korea, Taiwan and other countries in development of SME culture as the Sialkot-based SMEs have been producing only exportable items and enjoy special status in the international market for its products. Government and other financial institutions are lending support to the export sector and they are foreseeing growth of exports and development of SMEs at a fast pace in Sialkot, he said.

Meanwhile, visitors showed keen interest in all the products, handicrafts, banking loan facilities, boutiques and other articles displayed there by the students of local college and universities.

A large number of the SMEs, bankers, girl students of local colleges and universities visited the Mela, which was the first event of its kind held in Sialkot. SCCI’s Research and Development Officers (RDOs) Umair Nisar and Salman Mir were also present.

The commercial banks and other financial institutions showcased their latest and available products and services in order to cater to the business financial needs of the SMEs of the Sialkot region. Visitors from all spheres of life from students, micro, small and medium entrepreneurs could directly benefit from the event as all the service providers were available under one roof in the event.

During the event, the children presented the tableaus under the auspices of Child and Social Development Organisation (CSDO). The participating nomad students successfully highlighted the importance of the children’s education for their lucid future.