Lahore: The Lahore Chamber of Commerce and Industry (LCCI) organized the SME Finance and Banking Expo on Thursday, aiming to provide small and medium enterprises (SMEs) with direct access to banking facilities, financing schemes, and financial products. The event saw participation from major commercial banks, Islamic banks, and financial institutions across the country, offering attendees insights into SME-focused financing products, credit facilities, and digital banking solutions.

The expo was inaugurated by notable figures including LCCI President Faheem Ur Rehman Saigol, Executive Director of the State Bank of Pakistan Syed Basit Aly, and Chief Manager Tariq Riaz. The opening ceremony was attended by senior bank officials, business leaders, and women entrepreneurs, marking a significant gathering of stakeholders.

In his address, LCCI President Saigol emphasized the crucial role of SMEs in achieving sustainable economic growth, citing examples from China, Vietnam, and Bangladesh. He highlighted the expo's aim to bridge the gap between banks and businesses by raising awareness of available financing products and services. Saigol pointed out the low private sector financing in Pakistan, which stands at 6.5 percent of GDP, and called for a focus on cash flow and business potential over strict collateral requirements.

Executive Director Syed Basit Ali reaffirmed the government's commitment to the SME sector, noting the State Bank's efforts to shift towards cash-flow-based lending. He emphasized the importance of women's inclusion in the economy under the "Banking on Equality" policy and announced ongoing work on "Banking on Equality Vision 2.0."

Chief Manager Tariq Riaz praised the expo's success and underscored the role of such forums in restoring business confidence. He called for a collaborative effort to improve the business environment, encouraging the youth to invest in their future within Pakistan.

SAARC Chamber Vice President Mian Anjum Nisar highlighted challenges such as high interest rates and complex tax systems, urging the State Bank to take steps to provide relief to the SME sector.