KARACHI: The productivity of small and medium enterprises (SMEs) should be optimised through technological and financial access so that they could play their true role in the country’s economic growth, speakers at a forum stressed on Tuesday.

Experts at the 10th Pakistan SME Forum also discussed the issues confronting the SME sector.

Speaking on the occasion, State Bank of Pakistan’s assistant director said the central bank has set a target for providing loans of up to Rs400 billion to SMEs by 2020 under National Financial Inclusion Strategy. This would benefit around 50 per cent of SMEs, he said.

Sindh Board of Investment Chairwoman Naheed Memon said China was looking at Pakistan as a partner, therefore, there was urgent need to capitalise on the China-Pakistan Economic Corridor.

The speakers also stressed need to modernise infrastructure, banking, leasing, insurance and logistics so that capacity building of the SME sector would be possible. It was also suggested that there was a need to reduce taxes and duties on alternative energy solutions for SMEs to meet the energy shortage.

Majyd Azi, a board member of the Zarai Taraqiati Bank, said technology should he adopted to improve agriculture for ensuring food security and best practices should be introduced to farmers to safeguard their interest.

Published in Dawn, August 24th, 2016