Small, middle enterprises: SME Bank sell-off devise incomprehensible, says LCCI
LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has fiercely resisted a government’s devise to privatise SME Bank and has called for dropping a thought for a consequence of tiny and middle enterprises (SMEs).
In a matter on Wednesday, LCCI President Abdul Basit and Vice President Muhammad Nasir Hameed Khan termed a designed privatisation of SME Bank an fallacious preference taken but holding stakeholders on board.
They forked out that SME Bank was ancillary and building a SME zone by providing required financial and technical assistance on a tolerable basis. The bank was also enabling a SMEs to minister to mercantile expansion by value further and exports and was compelling entrepreneurship and formulating practice opportunities, they said. In a benefaction unfolding when SME Bank was fulfilling a responsibilities in a good manner, a LCCI office-bearers said, a privatisation was incomprehensible.
They suggested that instead of offered it off, a supervision should change a concentration to a SMEs as these were deliberate a engine of mercantile expansion in both grown and building countries. SMEs in Pakistan are providing practice to millions of people besides personification a poignant purpose in mercantile swell of a country.
“Selling off SME Bank is not a good choice as a customer will consider usually about profiteering, not about a SME sector, therefore, a supervision should postpone a devise and consider about a tiny and middle sector,” they said.
Published in The Express Tribune, Feb 2nd, 2017.
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Article source: https://tribune.com.pk/story/1314227/small-medium-enterprises-sme-bank-sell-off-plan-incomprehensible-says-lcci/