BANKERS URGED TO SHARPEN RISK MANAGEMENT SKILLS

THE FINANCIAL DAILY 16/01/2020

The Union of Small and Medium Enterprises (UNISAME) delegation participated in State Bank of Pakistan (SBP) awareness session of SME finance yesterday at SBP North Nazimabad office and urged the bankers to sharpen their risk management skills and change their mindset.
Shahid Ali Khan additional director conducted the session assisted by joint Director M.Azam Quraishy. Senior bankers , SBP officials, SMEs and representatives of Women Chamber of Commerce and other trade bodies actively participated.
Shahid Ali Khan explained in detail the various schemes of SBP at subsidized mark up for exports, alternate energy, balancing and modernization, long term financing and warehousing and others for promotion of the sector.
President UNISAME Zulfikar Thaver said that in financing SMEs the banks need to realise that their risk is split as they can lend to many SMEs in the same amount in which they can finance big amounts to few big borrowers.
He added that the banks need to make products for SME financing like SME credit cards and other products for bridge financing and pay as you earn schemes.
Convener UNISAME Baluchistan Aman Shah said the economy of Balochistan is mostly cash based and the province shares huge borders with Iran and Afghanistan and a lot of people are associated with smuggling, the scare of filers and non filers and FBR regulations have scared the masses. A policy is needed to educate the masses and make them filers by winning their confidence.
Secondly there is need to educate the entrepreneurs in accounting, management and administration systems and to make them bankable.
The UNISAME delegation comprising of Yousuf Yaqoob, Anwar Mian Noor, Ahmed Shaikh Ismail Gaba and Wajid Piracha laid stress on financing special economic zones for SMEs, start ups, youth, revival of sick units and fast track SME promotion.
The participants were happy to learn that the new SME policy is on the anvil and likely to be announced in couple of days.

Posted in: Press Releases