Islamabad: The Ministry of Finance and Industry has introduced Pakistan's first specialized credit guarantee company for SMEs.
A partnership was formed between the Ministry of Finance and Karandaz Pakistan to establish the National Credit Guarantee Company Limited (NCGCL).
It was informed at the event that NCGCL will help in financing small and medium enterprises in Pakistan. Moreover, NCGCL will facilitate special credit guarantees to increase access to finance, a revolutionary move aimed at paving the way for investments for small businesses.
It was informed at the event that NCGCL will help in financing small and medium enterprises in Pakistan. NCGCL will provide a special credit guarantee facility to increase access to finance. To pave the way for investments in businesses.
On this occasion, the Federal Minister of Finance, Revenue, and Economic Affairs, Dr. Shamshad Akhtar, while addressing the ceremony, said that the total private credit of small and medium businesses in Pakistan is 5.2 percent.
Shamshad Akhtar said that NCGCL will develop products for more than 1.5 million SMEs in Pakistan with a market volume of more than 3.7 trillion rupees. NCGCL will work with financial institutions to ensure the availability of credit in the market.
