The Pakistan Banks’ Association (PBA), in collaboration with Ipsos and Reenergia, has officially signed an agreement to develop the SME Environment & Performance Index (SEPI), marking a significant milestone in the advancement of Pakistan’s Small and Medium Enterprise (SME) sector.
Held at the Islamic Chamber of Commerce & Development Building in Karachi, the signing ceremony brought together key stakeholders from the financial and SME sectors. The SEPI initiative is set to provide comprehensive insights into the performance and business environment of SMEs in Pakistan, addressing critical challenges while fostering sustainable growth.
Muneer Kamal, CEO and Secretary General of PBA, emphasized the importance of this collaboration in empowering the SME sector. He stated, “This partnership is a significant step forward in empowering Pakistan’s SME sector. The development of the SME Environment & Performance Index will provide us with crucial data to better understand the needs of SMEs, facilitate access to finance, and strengthen the broader business ecosystem. PBA is committed to supporting sustainable SME growth and ensuring that financial products and services are tailored to their evolving needs.”
The SEPI initiative aligns with the broader goals of enhancing financial inclusion and sustainability within the SME sector. By leveraging data-driven insights, the index aims to support informed decision-making for policymakers, financial institutions, and investors.
Abdul Sattar Babar, CEO and Managing Director of Ipsos in Pakistan, highlighted the transformative potential of the project. “At Ipsos, we are excited to be part of this transformative initiative. Through the SEPI, we will provide a data-driven approach to understanding SME performance and the business environment in Pakistan. Our expertise in research and analytics will ensure that the index is both robust and actionable, delivering valuable insights to help stakeholders make informed decisions,” he said.
Reenergia’s President, Amer Zafar Durrani, underscored the significance of sustainable development in the collaboration. “Our commitment to sustainable development aligns perfectly with the goals of this initiative, which will not only measure the performance of SMEs but also provide the data needed to drive policy change, foster economic growth, and encourage financial inclusion for all sectors, including women entrepreneurs,” he noted.
The State Bank of Pakistan (SBP) also expressed strong support for the initiative. Syed Irfan Ali, Executive Director at SBP, remarked, “The SME sector plays a critical role in Pakistan’s 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 furthering our efforts to understand the challenges faced by SMEs and to create targeted solutions to ensure their success and sustainability.”
The SEPI is expected to offer data on key performance indicators, sectoral trends, and marketplace challenges faced by SMEs. This information will enable financial institutions, policymakers, and investors to make informed decisions that support the growth and sustainability of the sector.
Following the signing, the event concluded with a networking session where participants discussed the next steps for implementing the SEPI project. This collaboration marks a critical step toward building a more inclusive financial ecosystem for Pakistan’s SMEs, positioning them as a cornerstone of the country’s economic growth.