Islamabad: Senator Muhammad Aurangzeb, the Federal Minister for Finance and Revenue, has directed lenders to enhance access to credit for Small and Medium Enterprises (SMEs) across Pakistan. The directive came during a meeting aimed at reviewing the current state of SME financing, aligning with the Prime Minister’s vision to bolster SMEs and promote export-led growth.

According to Press Information Department, the Finance Minister highlighted the critical role of SMEs in driving economic activity and investment, urging for improved financial inclusivity to support export-oriented growth. The meeting involved assessing lending volumes, the number of borrowers, and the effectiveness of the newly launched SME Connect portal, designed to streamline loan applications and enhance transparency.

Participants discussed the need for more comprehensive financial outreach by commercial and microfinance banks, as well as non-banking finance companies. The Finance Minister called for a focused approach to address the varying needs of micro, small, and medium-sized businesses and emphasized optimizing dedicated financing for export activities.

The meeting concluded with a resolve to continue discussions on SME financing, especially focusing on the SME Connect portal and overcoming regulatory challenges. The session was attended by key federal ministers, banking officials, and representatives from various financial and regulatory bodies.