LCCI chief appreciates Rs2trn SME financing target

LAHORE: The President of the Lahore Chamber of Commerce and Industry (LCCI), Ali Hussam Asghar, has appreciated Prime Minister Shehbaz Sharif and the federal government for setting a target to increase SME financing to Rs2 trillion by June 2028, saying the initiative could help expand businesses, generate employment and accelerate economic activity.

In a statement on Thursday, hesaid small and medium-size enterprises (SMEs) were the backbone of Pakistan’s economy and had significant potential to create jobs, promote entrepreneurship, expand industrial and commercial activity and contribute to exports.

Improved access to affordable and timely financing, he added, would enable the SMEs to expand operations, adopt new technologies and enhance productivity.

Ali welcomed the government’s target of extending SME financing to 775,000 potential borrowers, saying it could broaden financial inclusion and bring more businesses into the formal financial system.

He observed that outstanding SME financing had increased from Rs1.114 trillion in June 2026 to over Rs1.137 trillion by September, while the number of SME borrowers had risen to around 350,862.

The LCCI president stressed the need for coordinated efforts by the government, the State Bank of Pakistan, commercial banks, microfinance institutions, SMEDA and the private sector to achieve the target.

He called for simpler financing procedures, improved financial literacy, greater use of digital platforms and practical lending products tailored to SMEs and startups.

He also appreciated Federal Minister for Information and Broadcasting Attaullah Tarar for highlighting government initiatives aimed at supporting businesses.

The LCCI chief further said that chambers of commerce could help identify financing needs, create awareness and facilitate coordination between SMEs and financial institutions.

Copyright Business Recorder, 2026