Formation of SME Forum hailed

KARACHI: The Union of Small and Medium Enterprises (UNISAME) has appreciated the State Bank of Pakistan (SBP) on expansion of the 3S group, comprising SBP, SMEDA and SECP as SME Pakistan Forum (SMEPF) and including of other leading institutions on the pattern of SME Finance Forum of Berlin and the World SME Forum working for SME development, a statement said on Wednesday.

UNISAME President Zulfikar Thaver said that the present 3S group had worked hard towards promoting interaction between the group, strengthening role of banks, DFIs, SECP and SMEDA for facilitating SMEs and suggesting improvements in the SME policy.

The SBP has now invited UNISAME and other stakeholders to join in as members, he added. The terms of reference of SMEPF are being prepared to ensure establishing interaction, coordination and facilitation among members for collaborative actions, as well as recommendations for capacity building.

Thaver said that since the SME sector had been advising the government to form a committee for integrated efforts, as the stakeholder institutions lacked coordination. There were issues of hierarchy and overlapping jurisdictions, he said, adding that setting up of SMEPF was a way forward.

He urged the SBP to expedite the setting up of Exim Bank and the restructuring of SME Bank of Pakistan and asked the Trade Development Authority of Pakistan (TDAP) to set up the SME Export Bureau.