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A meeting of the Transaction Committee for the privatisation of the Small &
Medium Enterprise Bank (SME) was held here today to kick off the privatisation
process. The management of the bank gave detailed presentation to the
transaction committee and briefed the members regarding the functioning,
operations and the issues involved.
The Committee discussed the privatisation plan and obtained the inputs of the
relevant stakeholders. The government is pursuing a comprehensive SME Sector
Development Plan SME (SDP) for increasing the outreach and availability of
finance to the small and medium sector enterprises, aimed at creating job
opportunities and poverty alleviation.
The Cabinet Committee on Privatisation (CCOP) had given approval for the
inclusion of the transaction in the privatisation program on June 28, 2006
while the Council of Common Interests (CCI) approved it for privatisation on
August 2, 2006.
Representatives of State Bank of Pakistan, Ministry of Finance, SME Bank
management and the officials of the Privatisation Commission were present
during the meeting.