The Vice President of Hyderabad Chamber of Small Traders & Small Industry, Shan Elahi Sehgal, has commended the State Bank of Pakistan and the National Bank of Pakistan for introducing loan schemes for Small and Medium Enterprises (SMEs), agricultural financing and commercial vehicle loans.
He stated that these initiatives would play a crucial role in stabilizing the national economy by providing essential support such as working capital and financial assistance for business expansion to SMEs.
Shan Sehgal further emphasized that these schemes would greatly benefit small business owners, especially women entrepreneurs, by offering opportunities to enhance and expand their businesses, thus contributing positively to the economic growth of the country.
However, he expressed concern over the lack of adequate awareness being provided by banks about these loan schemes.
He pointed out that no formal public awareness sessions are being conducted, and in many cases, the bank staff is not fully informed about the details of these financing options, which makes it difficult for small business owners to access accurate information.
This negligence could undermine the purpose of these loan schemes, which are intended to support the growth of SMEs and the agricultural sector.
The Vice President suggested that banks should promptly launch official awareness campaigns in Hyderabad to ensure that a maximum number of people can benefit from these loan facilities.
He offered the services of the Hyderabad Chamber of Small Traders & Small Industry, as the only registered Chamber in Hyderabad under the Ministry of Commerce, to provide a platform for banks to educate traders and create awareness.
He assured the chamber’s full support and cooperation in facilitating the welfare and development of small traders. Drawing attention to some of the chamber members’ grievances, Shan Sehgal highlighted the difficulties faced by traders in opening new bank accounts.
He mentioned that many traders have to visit banks repeatedly over several days, often finding branch managers absent, while the inappropriate behavior of some bank staff creates significant obstacles for businesses.
He called upon the State Bank of Pakistan to ensure the strict implementation of banking ethics and code of conduct and to focus extensively on staff training to foster a supportive environment for businesses to work with banks comfortably.—APP
