KARACHI: The default rate in the small and medium enterprises (SME) sector continued to rise during the third quarter of FY25, despite various initiatives by the State Bank of Pakistan (SBP) and the government to improve access to finance.

According to SBP data, the non-performing loan (NPL) ratio for SMEs increased to 15.39pc during January-March FY25, up from 14.16pc in the previous quarter (Oct–Dec FY25). The persistent rise in defaults reflects a challenging credit........

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