LCCI chief appreciates Rs2trn SME financing target

Business Recorder reported that Ali Hussam Asghar, president of the Lahore Chamber of Commerce and Industry, has welcomed the federal government's goal of lifting SME financing to Rs2 trillion by June 2028. He said the aim of reaching 775,000 potential borrowers could widen financial inclusion and draw more firms into the formal system.

In a statement issued on Thursday, he described small and medium enterprises as central to the economy, with the capacity to create jobs, deepen entrepreneurship and lift exports. Easier access to affordable and timely credit, he added, would help these firms expand, adopt new technologies and raise productivity. Lending to SMEs stood at Rs1.114 trillion in June 2026 and exceeded Rs1.137 trillion by September, while borrowers numbered around 350,862.

Asghar called for joint effort by the government, the State Bank of Pakistan, banks, microfinance providers, SMEDA and the private sector. Simpler lending procedures, stronger financial literacy, wider use of digital channels and loan products designed for SMEs and startups were among his proposals. Chambers of commerce, he said, can pinpoint financing needs, build awareness and bring SMEs and lenders together.