ISLAMABAD, Dec 29 (INP-WealthPK): The Asaan Finance Scheme (SAAF) will prove a game changer for enhancing access to finance for small and medium enterprises (SMEs), says the State Bank of Pakistan (SBP) Governor Dr Reza Baqir. He was addressing a cheque distribution ceremony at the Multan Chamber of Commerce and Industry (MCCI) to commence disbursement of loans by Meezan Bank under the SAAF Scheme. Reza Baqir highlighted that with the objective of stimulating sustainable economic growth, the State Bank has been taking various initiatives to facilitate the business community. Some of the major initiatives include introduction of a unique collateral free loan scheme for SMEs, Asaan Finance, SBP’s concessionary refinance schemes for different sectors, measures taken to combat the COVID-19 effects, digitisation of banking systems, and persuasion of banks. He sought cooperation from the MCCI to identify lists of employees of its member industries for extending them loans for constructing homes under Mera Pakistan, Mera Ghar Housing Scheme. The SBP governor stated that salaried class of the industry drawing around Rs40,000 could avail facility of the loan for building homes. He regretted that only a few Pakistanis could realise the dream of housing in the past, adding that the government launched the scheme with 5-7 percent markup for convenience of people who want to construct homes on five to 10 marla land. Reza Baqir shared that the banks sanctioned Rs100 billion for this loan. He said masses have availed Rs30 billion under this scheme so far, while applications of Rs250 billion are pending. Commending the MCCI services for running the SBP scheme for building of new hospitals or extending old ones during COVID-19, Reza Baqir informed that it had set an example for rest of the chambers of the country. He said Rs1 billion was disbursed in Multan for it with only 3 percent interest and Meezan Bank offered loan at zero percent markup too under this scheme for which it deserves appreciation. Reza Baqir said neither the SBP extends loans itself, nor it deals with customers; rather it involves banks for it. He said the central bank runs its schemes in collaboration with different chambers of commerce. He said the MCCI extended great help for running the schemes successfully. He stated that the government extended help for the loan scheme, adding that the risk of the banks from 40-60 percent will be protected by the government. The SBP governor assured continued support and facilitation of the central bank for the business community, and also advocated them to continue playing their effective role in overall economic growth of the country. Earlier, the MCCI President Khawaja Muhammad Hussain in his address praised various schemes initiated by the government for financial assistance of business community during coronavirus pandemic. He urged the SBP to conduct regular awareness seminars for SMEs about different schemes for them and women entrepreneurs.