Adviser to Prime Minister for Industries and Production Haroon Akhtar Khan has called on banks and the State Bank of Pakistan (SBP) to give due consideration to the financing challenges faced by SME clusters and take effective measures to address them as limited access to credit remains a major constraint on growth of many viable businesses.
The adviser held a consultative session with representatives of small and medium enterprises (SMEs), business clusters, banks, the State Bank and relevant government departments to address the challenges faced by businesses in accessing affordable and timely financing.
The representatives of various SME clusters highlighted the funding constraints and procedural hurdles affecting their businesses, including difficulties in obtaining credit and gaining access to suitable financing facilities to expand operations, meet working capital requirements and capitalise on emerging opportunities.
