SBP governor pledges measures for promoting housing, SMEs sectors

APP – State Bank of Pakistan (SBP) Governor Tariq Bajwa has pledged all-out efforts for promotion of agriculture, Small and Medium Enterprises (SMEs) and housing sectors in the country.

He said that the SBP was making hectic efforts to remove all obstacles in smooth functioning of the SMEs.

He was addressing a joint meeting of the Sialkot exporters and bankers at Sialkot Chamber of Commerce and Industry (SCCI) on Thursday.

The SCCI president presided over the meeting while officials of the SBP Sialkot and the SCCI, and representatives of trade bodies attended the meeting.

The SBP governor said that the Bank was bringing about betterment in the credit allocations for the SMEs, saying that efficient credit allocations were critical for sustainable and inclusive economic growth.

Tariq Bajwa said the SBP had simplified the procedure for loan applications for the SMEs, adding that the step would help the SMEs flourish in the country.

He said that the SBP would soon give a "special barrier" to all commercial banks for controlling inter-bank rates and minimize difference of rates of foreign currencies to help the SMEs as well.

The SBP governor said that measures were being taken to make Exim Bank an active institution.

The SCCI officials highlighted the problems facing the Sialkot business people and sought help of the SBP governor for solving these problems.