"Small and Medium Enterprises are one of the principal driving forces in economic development but this sector is neglected in Pakistan and needs Government's and banks' attention for progress", expressed by President-KCCI, Anjum Nisar while addressing in the 8th Banking & Insurance Sub-Committee Meeting of KCCI. A team of high ranking officials of Habib Bank Limited led by Head of Global Operations HBL, Mudassir H. Khan and Head of Retail & Commercial Lending, Mubashar Maqbool were invited as Guests in the meeting.

President-KCCI, Anjum Nisar while appreciating HBL for its better services to private sector urged to introduce soft-term financing schemes for SMEs, especially the small enterprises. Voicing on the importance of SMEs, he stated that SMEs stimulate private sector's ownership and entrepreneurial skills, they were flexible and can adapt quickly to the changing market demand and supply situations, they generate employment, help to diversify economic activities and make significant contribution to exports and trade.

Role of SMEs in the development of economies of Japan, Germany and Turkey was fundamental, he added. He also commented on the strict monetary policy and urged the Government to bring the discount rate to one digit. He articulated that feasible cost of borrowing, low cost of doing business and better law and order situation were the essential ingredients to promote the trade and industry. He informed that in the recent meetings held at Islamabad with high Government officials, he urged the Government to take necessary measures to revive the trade and sick industries.

A.Q. Khalil, former President-KCCI while addressing the meeting asserted on the need of close-liaison of Banks with Karachi Chamber of Commerce & Industry and with the private sector. He suggested that Banks should hold regular meetings with private stakeholders for an updated insight on trade and industrial activities. He lamented that in the past, at times on the directives of Governments, banks extended loans to intimated beneficiaries and majority of those loans were also waived-off whereas the Banks gave hard time to private sector while offering them loans and for their rescheduling and recovery.

Ateeq Ur Rehman, Chairman, Banking & Insurance Sub-Committee of KCCI stressed the need of SME & Microfinancing products for the small industry and small traders. To promote the SMEs, small financing products and SME loans were essential, which must be offered without collateral, he asserted. He also urged HBL to introduce flexible financing schemes for the women entrepreneurs. He also sought the support of HBL in the promotion of health and education sector. He also expressed gratitude to the higher management of HBL for sponsoring a CSR Day programme on the occasion of KCCI 50th Anniversary in the month of August, 2009.

Mudassir H. Khan, Head of Global Operations, Habib Bank Limited, on the occasion, expressed gratitude towards KCCI and the business community of Karachi for opting HBL as their banking partner. He informed that HBL, since its privatization in 2004, was setting new benchmarks in its services. He said that presently HBL was operating 1450 branches countrywide alongside a network of 55 branches in various countries around the globe. He informed that HBL held the privilege of being the largest private sector bank in Pakistan offering the largest network of online services encompassing the ATM network, internet, phone & sms banking and a broad array of services. He said that HBL was further enhancing its network and improving its services, to ensure better interaction with its clients and to minimize the processing time for any transaction.