LAHORE, Feb 2 (Pakistan Point News - APP - 02nd Feb, 2017 ) : The Small and Medium Enterprises Development Authority (SMEDA) and Bank Alfalah entered into a Memorandum of Understanding (MOU) on Thursday for uplift of the SME sector across Pakistan. Atif Bajwa, CEO Bank Alfalah and Haroon Ahmed Khan, General Manager Business and Sector Development Division, SMEDA signed the MOU at a ceremony held at Learning Center of the Bank Alfalah. Atif Bajwa emphasized the need to grow SMEs from 35% of the economy to over 60% like in the developed countries.
Haroon Ahmed Khan applauded the efforts of Bank Alfalah for the development of the SME sector in the country. He also spoke about the importance of SMEs as key drivers of productivity and economic growth. Haroon Ahmed noted that SMEDA looked forward to create synergies between the two organizations to enhance SMEs access to finance. The alliance envisions creating synergies for development of SME centric programs, improve SMEs access to finance and extend advisory and training support to established SMEs and entrepreneurial incubation centers in universities across Pakistan.
It enhances the scope of collaboration already carried out by the two organizations vis-a-vis regional help desks for SMEs to avail formal sources of financing through the bank. This is the first hybrid collaboration between a private commercial bank and a government enterprise. The aim is to provide networking facilitation and capacity building for business entities to excel.