Union of Small and Medium Enterprises and Small and Medium Enterprises Development Authority to work jointly for implementation of National Finance Inclusion Strategy action plan

Karachi, June 15, 2016 (PPI-OT):The Union of Small and Medium Enterprises (UNISAME) and the Small and Medium Enterprises Development Authority (SMEDA) have been assigned the task of designing new or expand existing capacity efforts and also to strengthen value chain linkages and borrowers access to clusters and associations under the National Finance Inclusion Strategy (NFIS) action plan recommendation approved by the Technical Committee (TC).

President UNISAME Zulfikar Thaver and also member TC NFIS and chairman Working Group (WC) on Capacity Building submitted recommendations all of which were approved by the TC NFIS at its meeting today the 15th June 2016 at the NFIS Secretariat at SBP.

The recommendations namely broadening the definition of SME, capacity building of SMEDA, creating a forum of stakeholders, centres for incubation in provinces, survey, early launch of Exim Bank, adequate steps for capacity building of banks and SME related institutions, dedicated loan schemes, clear road map and models for SME lending and amendments to the financial institution ordinance were appreciated and approved with time line by the TC of NFIS also comprising of directors of State Bank of Pakistan (SBP) at the NFIS Secretariat at SBP.

Javed Iqbal , head SME banking, Bank Alfalah and chairman of WG on Product, Policy and Services submitted recommendations for creation of SME zones , tax incentives,, community reinvestment, credit guarantee insurance, secured transactions and electronic collateral registry which were also approved and appreciated.

Thaver said the sector is impressed with the action plan of NFIS and is confident that the NFIS action plan and its implementation will build the capacity of the SMEs, banks, leasing and insurance companies and within the next two years the sector will be strengthened and will be able to meet challenges.

For more information, contact:
Union of Small and Medium Enterprises (UNISAME)
75/1 3rd Commercial Street,
Phase IV, D.H.A., Karachi, Pakistan
Tel: +92-21-35884225-6
Fax: +92-21-35380642
Cell: +92-300-8245307, +92-321-8245307
Email: unisame@gmail.com