Small and Medium Enterprises: Aurangzeb directs lenders to expand timely access to credit

Finance Minister Muhammad Aurangzeb has asked lenders to widen timely credit access for small and medium-sized enterprises (SMEs), after a government meeting reviewed financing progress and ways to reach more businesses. Business Recorder reported that the discussion covered commercial banks, microfinance banks and non-bank finance companies, with a focus on bringing more new SMEs into formal lending.

Participants also assessed the SME Connect portal, launched this week to let businesses apply directly for bank loans. The minister called for improving the platform and related procedures, using dedicated financing limits more effectively, particularly for export activity, and coordinating with SMEDA on capacity building. Follow-up talks are expected to consider the portal and regulatory obstacles involving relevant ministries.