Prime Minister Shehbaz Sharif on Tuesday directed authorities to prepare a comprehensive strategy for improving financing access for small and medium-sized enterprises (SMEs).
He issued the instructions while chairing a review meeting of the Small and Medium Enterprises Development Authority (Smeda) in Islamabad.
PM Seeks Better Financing and Export Growth
According to the Prime Minister’s Office, the strategy will be developed with the State Bank of Pakistan and commercial banks. The initiative aims to improve SMEs’ access to financial support.
The prime minister stressed easier loan facilities to strengthen the SME sector. He said improved financing would help increase Pakistan’s exports.
He also instructed officials to support businesses in expanding their productive capacity. Furthermore, he called for greater awareness and financing opportunities for farmers processing agricultural produce.
PM Shehbaz directed commercial banks to introduce financial products designed specifically for SMEs. He said these products should address the sector’s unique business requirements.
Government Expands Support for Entrepreneurs
The prime minister also instructed Smeda to help businesses prepare feasibility studies. He said such support would simplify business establishment and expansion.
He emphasised the need for immediate action to remove barriers affecting SME growth. He also directed Smeda to encourage young entrepreneurs, including women, to launch businesses.
During the meeting, officials briefed participants on Smeda’s ongoing initiatives. They said 700 enterprises participated in 16 international events this year.
Officials added that enterprises in 35 cities received training on financial regulations and business development. They also shared updates on several additional programmes currently implemented through Smeda.
