Steps for promotion of SMEs welcomed

Karachi: The Union of Small and Medium Enterprises (UNISAME ) thanked the State Bank of Pakistan (SBP) for completing formalities for prompt functioning of Exim Bank and also for deciding to privatize the SME Bank with an agenda to cater to the sector specifically.

President UNISAME Zulfikar Thaver expressed thanks to the SBP for timely decisions and said the sector is anxiously waiting for the Exim Bank and also the SME Bank under private sector with the SME specific agenda to cater to the SMES up to 80% of their portfolio.

Thaver said the SBP now needs to promote Venture Capital to enable the entrepreneurs set up units under equity participation of local and foreign venture capitalist especially the Chinese who are keen to set up joint venture units with transfer of their technology.

He stressed the need to enhance limit of micro finance banks to enable them cater to the small also along with the micro entrepreneurs.