📈 Treasury Debunks SME Funding Critics; Confident in Higher 2026 Revenue

• The Treasury Secretary affirmed that Government-led initiatives for SMEs are progressing faster than perceived. • Credit Guarantee Scheme: The National Credit Guarantee Institution (NCGI), launched in May 2025, has already issued Rs. 4.2 Bn in credit assurances to SMEs within five months. This figure is four times higher than recent public perception. • SME Allocation: Over 90% of the Rs. 20 Bn allocated for SME support in 2025 has been disbursed. • Banking Sector Support: Private sector banks are strongly engaged, with several major commercial banks disbursing hundreds of billions in SME financing (e.g., one major bank portfolio exceeds Rs. 300 Bn). • 2026 Revenue Outlook: Officials anticipate a significant increase in 2026 revenue, based on the soaring number of Letters of Credit (LCs) opened for vehicle imports. • Reforms: Revenue administration and digital modernization programs are underway, with confidence that targets can be met—and possibly exceeded—due to momentum and cultural transformation in the public sector.