According to the State Bank of Pakistan’s (SBP) executive director, SBP Mansoor-ur-Rehman Khan, the bank will announce prudent regulations for small- and medium-sized enterprises (SMEs) next month.
He said the regulations will cover all aspects of the SME sector including collateral, definition of SME and clean financing with and without collateral. He was chairing a meeting of the export banking policy committee at SBP head office on Tuesday (14 October).
The Convener Union of Small and Medium Enterprises (UNISAME), Zulfikar Thaver, pointed out that the export refinance facility was not benefiting the SME sector as they have to pay around 11 per cent instead of 3 per cent due to the collateral issue.
Mansoor assured UNISAME that SBP was reviewing and improving this scheme to ensure that exporters, especially SMEs, get maximum benefit. He added that SME banks will get commercial banking licenses to further facilitate the SME sector.
