NBP to develop products for SMEs

KARACHI: 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, Unisame President Zulfikar Thaver said in a statement on Saturday.

Thaver said, “They had been in discussion with the bank, and NBP has agreed to facilitate, support and finance the SMEs under various schemes such as 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 the Small and Medium Enterprises Development Authority (Smeda).”

Smeda has convened a meeting on August 7, 2018 at its provincial office in Karachi, in this regard, it said.

Smeda provincial chief Mukesh Kumar said that there was a vast scope in food items to be manufactured in Pakistan, now that imports had become costly due to depreciation of the rupee and imposition of import duties to discourage imports.

“Value addition of agricultural goods is the best business for SMEs and it is the best opportunity for the small to medium sized entrepreneurs,” he added.