Haroon assures SMEs of resolving financing issues

Adviser to the Prime Minister for Industries and Production Haroon Akhtar Khan told small and medium-sized enterprises (SMEs) that the government would work to ease their financing difficulties, Business Recorder reported. At a consultative meeting in Islamabad on Thursday, he asked banks to make it easier for eligible businesses to obtain loans and other suitable funding.

SME representatives described barriers to securing credit, including procedural hurdles and difficulty finding affordable, timely finance for working capital and business expansion. Khan said Prime Minister Muhammad Shehbaz Sharif had directed that SME financing be doubled, and called on banks, the State Bank of Pakistan and government departments to coordinate on practical solutions. The ministry said it would continue consulting stakeholders to improve access to finance and support business activity, jobs and exports.