KARACHI: The Pakistan Banks Association (PBA), in collaboration with Ipsos and Reenergia, officially signed an agreement today to develop the SME Environment and Performance Index (SEPI). The index will provide valuable insights into the performance and business environment of SMEs in Pakistan. This cooperation aims to promote greater financial inclusion, enhance the sustainability of SMEs, and support informed decision-making by policymakers and financial institutions.
The signing ceremony, which was held at the Islamic Chamber of Commerce and Development building in Karachi, marks a pivotal moment for the development of SMEs in Pakistan as the country continues to prioritize growth and financial inclusion of this vital sector.
Commenting on the occasion, Munir Kamal, CEO and Secretary General of PBA, said: “This partnership represents an important step forward in empowering the SME sector in Pakistan. The development of the SME Environment and Performance Index will provide us with important data to better understand the needs of SMEs. Better, easier access to finance, and strengthening the broader business ecosystem PBA is committed to supporting the sustainable growth of SMEs and ensuring that financial products and services are tailored to their evolving needs.
Abdul Sattar Babar, CEO and Managing Director, Ipsos in Pakistan, shared his thoughts on the impact of the project, saying: “At Ipsos, we are excited to be part of this transformative initiative. Through SEPI, we will provide a data-driven approach to understanding the performance of SMEs.” and the business environment in Pakistan. Our research and analytics expertise will ensure that the indicator is robust, actionable, and provides valuable insights to help stakeholders make informed decisions.
Highlighting the importance of the collaboration, Amer Zafar Durrani, President, Renergia, said: “Our commitment to sustainable development aligns perfectly with the objectives of this initiative, which will not only measure the performance of SMEs, but will also provide the data needed to drive policy change. Promoting economic growth and encouraging financial inclusion for all sectors, including women entrepreneurs.
Syed Irfan Ali, Executive Director of the State Bank of Pakistan, emphasized the role of the central bank in supporting small and medium enterprises. He said: “The SME sector plays a crucial role in the Pakistani economy. The State Bank of Pakistan is fully committed to facilitating the growth of SMEs through financial inclusion initiatives and policy support. This index will be a valuable tool in enhancing our efforts in understanding the challenges faced by SMEs and creating… Targeted solutions to ensure its success and sustainability.
The development of the SME Environment and Performance Index is a crucial step towards creating a more inclusive and supportive financial system for SMEs in Pakistan. The index will provide data on key performance indicators, sector trends, and insights into the challenges faced by SMEs in the market, helping financial institutions, policymakers and investors make more informed decisions.
The event was attended by key stakeholders from the financial and SME sector, who came together to celebrate this important milestone in the SME development journey of Pakistan. The signing ceremony was followed by a networking session in which participants discussed the next steps in implementing the project.