Updated on
Summary SBP governor has said that the SME sector is being neglected due to increase in government loans.
Addressing a conference on ‘SME Banking in Pakistan’ on Tuesday, the State Bank of Pakistan (SBP) Governor Shahid Kardar has said that the Small Medium Enterprises (SMEs) play vital role in economic uplift and it contributes 30 percent of total GDP of the country adding that the SME sector also creates 70 percent jobs. He said that power crisis had badly affected the sector.He maintained that volume of the SME loan had decreased by Rs 100 billion during the last three years. He urged the financial institutions to provide loans to the SME sector and said that the SBP would provide 30 percent of total loans, if necessary.
