ICCI for re-activation of SME Bank to promote SME sector.

ISLAMABAD -- Ahsan Zafar Bakhtawari, President, Islamabad Chamber of Commerce and Industry (ICCI) on Wednesday urged the government to re-activate the SME Bank to provide easy financing options to the SME sector as its winding up would deprive SMEs of the affordable credit facility.

He said that already SMEs are facing great problems in getting credit from banks as the SME sector in Pakistan receives only 6-7% of the private sector financing as compared to 25% in Bangladesh and 18% in India.

He said that the closure of SME Bank would create more hurdles for SMEs in expansion and growth. He said this while talking to a delegation of employees' unions that called on him led by Zahoor Awan, Chairman, Pakistan Workers Federation's Steering Committee.

Mian Akram Farid, Chairman (Central) Employers Federation of Pakistan, President SME Bank Employees Union, President Punjab Bank Employees Union, President Zarai Taraqiati Bank Employees Union, President State Life Insurance Corporation Employees Union were in the delegation.

Zafar Bakhtawari former President ICCI and Secretary General UBJ Pakistan and Mehfooz Elahi former President ICCI were also present on the occasion.

Ahsan Bakhtawari lauded the efforts of Pakistan Workers Federation for protection of workers rights and legislative reforms in labor laws and assured that ICCI would try to raise their genuine concerns with the relevant quarters for redress.

Speaking on the occasion, Zahoor Awan, Chairman, Pakistan Workers Federation's Steering Committee shared the concerns of SME Bank employees due to its planned closure and urged the government to address their...