The State Bank of Pakistan (SBP) yesterday advised banks to extend loans to the small and medium enterprises (SMEs) under the Prime Minister’s Youth Business Loans scheme.
In this regard, the SBP held an Orientation Workshop on Prime Minister’s Youth Business Loans (PMYBL) scheme, a press release said.
Abid Qamar, SBP Director Infrastructure Housing and SME Finance Department led the workshop which was attended by representatives from SBP, Smeda, business and product development heads of commercial banks. On the occasion, Qamar highlighted the importance of the SME sector for spurring economic growth, employment generation and export earnings.
He lamented that despite significant contribution of SME sector in the country’s GDP, the sector is not getting its due share of financing from the banking system.
