Agriculture, SMEs, low-cost housing can boost economy: SBP Governor

LAHORE: State Bank of Pakistan (SBP) Governor Tariq Bajwa has said that agriculture, Small and Medium Enterprises (SMEs) and low-cost housing were three major sectors that could contribute substantially to the country's economic growth.

The SBP Governor expressed these views at a ceremony held in connection with an MoU (Memorandum of Understanding) signing between Punjab University Institute of Business Administration (IBA) and Meezan Bank Limited here at PU's Vice Chancellor office on Sunday. PU Faculty of Sciences' Dean Prof. Dr. Shahid Kamal, Registrar Dr. Muhammad Khalid Khan, IBA In Charge Ms. Sajida Nisar, Meezan Bank Limited President & CEO Irfan Siddiqui and other officials were present.

The MoU aimed at addressing capacity building challenges in SME banking and both the partners would collaborate to launch an MBA programme in 'SME Banking & Entrepreneurship' at IBA in an effort to boost economy as SMEs were the harbinger of economic productivity.

The proposed degree programme aimed at minimizing the gap among banks, academia and entrepreneurs, as the State Bank of Pakistan had dubbed 2018 as the year of SMEs.

Tariq Bajwa highlighted the importance of industrial sector and appreciated the efforts of IBA-PU and Meezan Bank in launching MBA in SME Banking and Entrepreneurship.

Ms. Sajida Nisar said that IBA had been dedicated to impart world-class, market competitive education to aspiring leaders, entrepreneurs and managers. She added that initiating MBA programme in 'SME Banking and Entrepreneurship' would create a historic milestone because it would be one of its kinds in Pakistan and would be distinctive competitive advantage for IBA. She admired that Meezan Bank had promised to leave no stone unturned in making this programme a huge success at IBA.

Sharing his thoughts, Irfan Siddiqui was delighted to develop strong mutual ties between banking and academia for the progress of two sectors. He also mentioned the major areas including SME banking and entrepreneurship which needed to be addressed, asserting that the MBA programme would produce trained human resource who would contribute to the SME sector of Pakistan.

Prof. Dr. Shahid Kamal appreciated the efforts of both the parties and said that by materializing the agreement, IBA-PU and Meezan Bank would be asked to set a right precedent for imparting quality education on SME banking and entrepreneurship in Pakistan and prepare professionals who were able to induce efficiency and productivity to the SME industry.

At the end, Prof. Dr. Shahid Kamal also presented the PU souvenirs to the SBP Governor.