LAHORE -  SME Bank is ready to provide all types of facilitation to the Small & Medium Enterprises (SMEs) and proposals of the Lahore Chamber of Commerce and Industry (LCCI) would be welcomed in this regard.

This was stated by SME Bank President Ihsanul Haq Khan while talking to LCCI Acting President Amjad Ali Jawa and Vice President Muhammad Nasir Hameed Khan here at the LCCI. Former LCCI senior vice president Malik Tahir Javed, Executive Committee Members Tahir Manzoor Chaudhry and Adnan Khalid Butt were also present on the occasion.

The SME Bank president said that feedback from the LCCI could further improve the performance of SME bank. He said that SME Bank of Pakistan is supporting and developing the SME sector by providing necessary financial and technical assistance on a sustainable basis.

The LCCI acting president said that SME Bank was established to grow Small and Medium Enterprises but it has been observed that the results are not as encouraging as these should be. He said that financial policy of the bank should be clear while borrowing process should be easy for the enterprises. He said that SME Bank of Pakistan should enable the SMEs to contribute to economic development through value addition and exports. He informed the SME Bank president that the LCCI was the first chamber of the country who had opposed the privatisation of SME Bank in the larger interest of the SME sector of Pakistan.

He said that Pakistan is a developing country where over 90 percent industries and Small and Medium Enterprises exist. He said that these are not only backbone of the economy but also help Large Scale Manufacturing Sector to play its due role. He said that the LCCI had proposed to the government that instead of selling SME Bank of Pakistan off, focus should be shifted to the SME sector of Pakistan as these are considered as the engine of economic growth in both developed and developing countries.

“It should be main objective of the SME Bank to fulfill its responsibilities in a good manner and support Small & Medium Sectors (SMEs) of Pakistan through facilitation measures”, the LCCI acting president added.