Small and Medium Enterprises Development Authority (SMEDA) in collaboration with the State Bank of Pakistan (SBP) organised a one-day seminar for marble and granite (M&G) sector for creating awareness regarding Refinance Scheme for the modernisation of SME sector. Officials of Smeda Regional Office, Peshawar and a large number of SMEs particularly from marble and granite sector attended the seminar.
During the seminar, the participants were given detailed briefing about the scheme while the State Bank of Pakistan was also informed about the reservations of the SMEs during day to day matters with the stakeholders. Rs 7.5 billion Refinance Scheme for the modernisation of SMEs on concessional rate of 6 percent was launched by the SBP in 2010. Under the scheme the credit was offered for the purchase of new imported plant and machinery for setting up new units. However, during last six years, the cumulative disbursement under the scheme has been remained merely Rs 316 million.
The purpose of the seminar was the creation of awareness amongst both banking sector and marble and granite sector. Speaking to the participants, Manager SMEDA, Ishfaq Afridi called for the formation of the scheme specific committee to frame a formal mechanism for resolution of problems in this regard and ensure the implementation of the scheme in the same spirit with which it was announced. Later, the participants proposed that instead of giving deposits targets to commercial banks, the central bank in future also give the target of specified SMEs.
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