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ICCI hosts SMEs conference

ISLAMABAD: The Islamabad Chamber of Commerce & Industry (ICCI) in collaboration with USAID Small Medium Enterprise Activity (SMEA), the State Bank of Pakistan (SBP), and Bank Alfalah organised a workshop on SME-financing to highlight its importance for the country.
Speaking on the occasion, USAID SMEA SME finance specialist Anum Imtiaz Illahi, said the organisation has launched a five-year SME project of $35 million that will improve financial performance targeting six sectors.
Bank Alfalah Regional Manager Credit Zohair Ismail highlighted numerous schemes that facilitate SMEs including Karobar, Milkiat, Merchant Line and Fleet Finance. “The bank is providing many non-financial services to improve the financial inclusion of SMEs.”
The share of SME financing in private sector credit is just 6-8%. The SBP has targeted 17% share by 2020.  Speaking at the occasion, ICCI President Sheikh Amir Waheed said that SMEs are the backbone of the economy as they represent over 90% of total business entities.