Islamabad, Dec 24: The Pakistan Banks’ Association (PBA), in partnership with Ipsos and Reenergia, has signed a landmark agreement to create the SME Environment & Performance Index (SEPI), a new initiative aimed at providing key insights into the performance and business conditions of Small and Medium Enterprises (SMEs) in Pakistan.
This collaboration aims to promote financial inclusion, enhance SME sustainability, and equip policymakers and financial institutions with data to make informed decisions.
The signing ceremony, held at the Islamic Chamber of Commerce & Development Building in Karachi, marks an important step forward in Pakistan’s ongoing efforts to support SME growth and financial inclusion.
This initiative will help strengthen the SME sector, a crucial part of the country’s economy.
Muneer Kamal, CEO & Secretary General of PBA, emphasized the importance of the project, saying, “This partnership is a major step toward empowering Pakistan’s SME sector. The SME Environment & Performance Index will provide essential data to better understand SMEs’ needs, improve access to finance, and enhance the overall business ecosystem. PBA remains committed to fostering sustainable growth for SMEs by ensuring financial products and services are tailored to their evolving requirements.”
Abdul Sattar Babar, CEO and Managing Director of Ipsos in Pakistan, expressed enthusiasm about the collaboration, stating, “We are excited to contribute to this transformative project. Through SEPI, we will offer a data-driven approach to assess SME performance and the business environment in Pakistan. Our expertise in research and analytics will ensure that the index is robust and provides actionable insights for stakeholders.”
Amer Zafar Durrani, President of Reenergia, highlighted the alignment of the project with the company’s commitment to sustainable development. He noted, “This initiative will not only track the performance of SMEs but also generate data that can drive policy changes, promote economic growth, and encourage financial inclusion, especially for women entrepreneurs.”
Syed Irfan Ali, Executive Director at the State Bank of Pakistan (SBP), underscored the central bank’s ongoing support for SMEs. “The SME sector plays a vital role in Pakistan’s economy. The State Bank of Pakistan is committed to supporting SME growth through financial inclusion and policy initiatives. This index will be an invaluable tool for identifying challenges faced by SMEs and developing targeted solutions to ensure their success and long-term viability.”
The development of the SME Environment & Performance Index is a significant move toward fostering a more inclusive financial ecosystem for SMEs in Pakistan. The index will provide valuable data on performance indicators, sector trends, and challenges faced by SMEs, helping financial institutions, policymakers, and investors make better-informed decisions.
The ceremony was attended by key stakeholders from the financial and SME sectors, who celebrated the launch of this crucial initiative. The event concluded with a networking session, where participants discussed the next steps for implementing the project.
