Risk coverage increased for SMEs’ growth

KARACHI: In line with the Government’s efforts to give impetus to the SME sector, the State Bank of Pakistan (SBP) has recently conveyed its strong resolve to support the banking sector by issuing a risk coverage scheme, which will help the banking sector to double its SME exposure to Rs. 1.1 trillion during the next five years.

These strategic measures being implemented with the support of Pakistan Banks’ Association (PBA) dedicated taskforces, in collaboration with the Ministry of Finance, are expected to provide significant support to driving robust economic recovery and sustainable development in the country.

Copyright Business Recorder, 2024