NBP TO DEVELOP PRODUCTS FOR SME FINANCING WITH SMEDA AND UNISAME

At the behest of the Union of Small and Medium Enterprises (UNISAME) the National Bank of Pakistan (NBP) has agreed to develop new products for financing the SME sector and the Small and Medium Enterprises Development Authority (SMEDA) has convened a meeting on 7th August 2018 at its provincial office in Karachi to be presided by its provincial chief (PC) Mukesh Kumar.to study the aspects.

President UNISAME Zulfikar Thaver said that we have been discussing with Dr Shehzad Amin an expert in franchising, marketing and branding and our other team experts and consider ourselves fortunate that Muhammad Mubashir Ahmad, senior vice president / Wing Head- Products Development Wing, NBP has agreed to facilitate, support and finance the SMEs under various schemes like franchise financing, pay as you earn scheme, financing for purchasing commercial property, merchant accounts and other feasible businesses based on sound business plans approved by SMEDA.

The PC SMEDA Mukesh Kumar said there is vast scope in food items to be manufactured in Pakistan, now that imports have become costly due to depreciation of rupee and imposition of import duties to discourage imports and lessen the foreign exchange burden. Value addition of agricultural goods is the best business for SMEs and it is the best opportunity for the small to medium sized entrepreneurs.

UNISAME has also invited Mehboob ul Haq the chief executive officer of the Sindh Enterprise Development Fund (SEDF) to highlight the opportunities and the promotional facilities offered by them. The joint director SME Finance Department (SMEFD) State Bank of Pakistan (SBP) Muhammad Azam said this is a good initiative by the stakeholders and wished them well.

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