The Islamia University of Bhawalpur (IUB) collaborates with State Bank of Pakistan (SBP) BSC Bahawalpur to boost SME sector in the Region. In this regartd, SBP BSC Bahawalpur orchestrated a pivotal gathering to bolster Small and Medium Enterprises (SMEs) in the region. Bringing together a diverse array of stakeholders, including the Small and Medium Enterprises Development Authority (SMEDA), Punjab Small Industries Corporation (PSIC), National College of Business Administration and Economics (NCBAE), and department heads of the Islamia University of Bahawalpur (IUB).
The meeting delved into strategies to uplift SMEs. Discussions centered on fostering an enabling environment, streamlining regulatory processes, and enhancing access to finance and market opportunities for SMEs. Chairman Department of Economics IUB Dr. Abid Rasheed Gill, and Dr. Areeba Khan from Business Administration Department IUB, participated in the meeting and shared valuable insights and suggestion to expedite the growth of the SMEs in the region. Following points were mutually agreed upon:
– to ensure effectiveness of the group and enhance synergies by collaboration, all the participants will share scope of their activities and areas of expertise.
– to be able to provide focused guidance, a database of all businesses in the region should be developed. The businesses will then be categorised into Micro, Small, and Medium enterprises and their financial education as well as financing needs will be assessed.- financial education courses and information dissemination mechanism will be developed for each category.
– data analysis and research will be carried out on regular basis to understand the unique challenges of SMEs and put forward suggestions for development of the sector.
– efforts will be made to establish office of SMEDA in the region.
– the group will meet twice in a quarter to discuss ideas and asses progress.
Through a collaborative and concerted effort, SBP BSC Bahawalpur and its partners are steadfast in their commitment to drive inclusive economic growth and prosperity in the region.
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