Islamabad, August 17, 2021 (PPI-OT): Minister of State for Information and Broadcasting Farrukh Habib says the government is determined to promote Small and Medium Enterprises (SMEs), to further improve the economic indicators, which are already on positive trajectory. In a tweet on Tuesday, he said promotion of SMEs would strengthen the economy and create job opportunities.
Farrukh Habib said State Bank of Pakistan has launched a scheme to provide collateral-free financing of up to ten million rupees to the Small and Medium Enterprises. He said the government will provide risk coverage of 40 to 60 percent to the selected banks against losses depending on the size of loans. He said it is expected that this initiative will enable sustainable growth in SME finances.
For more information, contact:
Ministry of Information and Broadcasting
Government of Pakistan
4th Floor, Cabinet Block, Pak. Secretariat, Islamabad, Pakistan
Tel: +92-51-9103557
Email: info@moib.gov.pk
Website: http://www.moib.gov.pk