SMEs in crisis due to failure to get bank loans
Small and middle-sized enterprises are facing a crisis due to difficulties in sourcing financing from banks, said the founder of City Mart Group of Companies, Daw Win Win Tint, “Not getting a bank loan means a catastrophe for the SMEs,” she said after SMEs Authoritative and Development Discussions, held in Naypyitaw on February 24. “The government should provide assistance in this kind of situation,” she added. In their predicament, private business sectors have to obtain K2/K3 interest loans for SMEs to function, and businesses in the government sectors have to face red tape; therefore, there was a gap between what was implemented in the law, and what was currently happening, she added.
