SBP celebrated Micro, Small, and Medium Enterprises (MSME) Day by highlighting their critical role in the national economy. This year’s theme, “MSME Finance: Catalyst for Inclusive Growth,” underscores the importance of financial support for SMEs.
The central bank organized an MSME seminar with key stakeholders, emphasizing the vital role SMEs play in employment, GDP, and exports. Deputy Governor Saleemullah outlined SBP’s commitment to creating an enabling environment for SME growth through increased financing.
SBP’s Vision 2028 aims to double SME financing to Rs 1,100 billion within five years. They urged banks to actively participate and surpass the estimated Rs 100 billion increase for FY 2024-25.
To further incentivize banks, SBP proposed government support for risk coverage on fresh SME financing. Allocations for this initiative have already been made in the FY25 budget.
Deputy Governor Saleemullah concluded by urging all stakeholders to collaborate in creating a supportive environment for SMEs. This collaborative effort is essential to drive economic growth and innovation through a flourishing SME sector.
SBP also held an event at its Banking Hall to raise awareness about the contributions of MSMEs to the economy. Commercial banks and SMEs showcased their products throughout the day, generating significant interest from visitors.
