FAISALABAD. Mr. Shabbir Hussain Chawla President Faisalabad Chamber of Commerce & Industry (FCCI) has expressed concern over the scheduled privatization of SME bank and said that it will deprive the easy availability of finances to the SME sector, already passing through a deep crisis.
He told that government has already privatized financial institutions that were exclusively meant to cater to the need of the small and medium industrial units. Among these include Pakistan Industrial Credit and Investment Cooperation (PICIC) and Exim Bank. Both these institutions were providing loans to the SME sector which is considered as the growth engine of the national economy. He said that instead of providing additional facilities to the SME sector, the government has deprived it from the facilities it was already enjoying. He demanded of the government to revisit its decision to privatize the SME bank, so that it could continue to serve the SME sector of the country. He further demanded that the loaning portfolio of SME bank should also be doubled to drag out SME sector from the current crisis.