Long-term financing: PM orders removal of 80pc export requirement for SMEs

Business Recorder reported that Prime Minister Shehbaz Sharif has instructed officials to end the rule requiring SMEs to generate 80 per cent of their business through exports before qualifying for long-term loans. He also said banks must follow the subsidised lending programme for SMEs and exporters, while authorities should make accreditation and regulatory processes easier and expand access to testing laboratories.

Officials told the meeting that over 10,000 loan requests had arrived after the SBP opened an SME portal on November 1. The Export Finance Scheme has Rs300 billion set aside for SMEs and new exporters, while Rs350 billion has been allocated to the long-term financing facility this year. The discussion also covered business complaints about taxes, refunds, logistics, payments and access to credit, alongside plans to grow exports to African markets.