Karachi: News source reported that the State of Pakistan had revealed the ‘SME Asaan Finance Scheme’ for the Small and Medium Enterprises (SME) to facilitate enterprises who cannot pay collaterals for accessing financial services.
As per details, the Asaan Finance Scheme will provide incentives to the growth of SMEs in Pakistan by developing a mechanism. It helps to will help to access credit facilities to potential enterprises.
According to the press release issued by SBP, the banks will be selected through a competitive bidding process to offer concessionary refinance facilities.
Federal Minister for Finance, Shaukat Tarin said that the new initiative would help strengthen the SME sector in Pakistan.
The central bank will service those banks who desire to extend lending services to SMEs.