CAPACITY BUILDING OF SMEs INCLUDED IN NFIS

UNISAME PRESIDENT APPOINTED AS CHAIRMAN OF WORKING GROUP

The Union of Small and Medium Enterprises (UNISAME) appreciated the efforts of the State Bank of Pakistan (SBP) to revise and redefine the SMEs and to give it a uniform definition and requested all stakeholders to accept the definition for the benefit of the majority sector.

President UNISAME Zulfikar Thaver said the parameters of the definition are annual sales and turnover of up to 150 millions and employment size up to 50 employees for categorization as small enterprise. An enterprise has to fulfill both the criteria for categorization as small enterprise.

Likewise the parameters for medium enterprise are annual turnover of up to Rs 800 millions and employment size up to 250 employees.

The maximum financing limit per party for small enterprise will be Rs 25 millions and for medium enterprise it will be Rs 200 millions. This will go a long way in the promotion and development of the SME units and will enable them to modernize and meet the global challenges.

The National Financial Inclusion Strategy (NFIS) technical committee on SME finance in its first meeting decided the composition of the working group on Capacity Building and appointed Zulfikar Thaver president UNISAME as its chairperson for the working group and Nadia Jahangir Seth DGM SMEDA, Samina Geti VP First Women Bank,Altaf Hussain Saqib Group Head Allied Bank, Akhtiar Ahmed Joint Drector SBP, Javed Iqbal Head of SME Pakistan Bank Alfalah, Amir Khan Executive Director SECP as members. Akbar Zaman Khan of International Finance Corporation (IFC) will be by invitation.

Posted in: Press Releases