Prime Minister Shehbaz Sharif has directed authorities to increase lending to small and medium-sized enterprises (SMEs) to Rs 2.2 trillion by 2028, aiming to strengthen businesses and support economic growth.
The directive focuses on expanding access to financing for small businesses, which play an important role in employment generation, entrepreneurship and economic activity. The government aims to make it easier for businesses to obtain loans and expand their operations.
Government Seeks Greater Access To Business Financing
The prime minister stressed the need to improve lending facilities for SMEs and ensure that businesses receive the financial support required to grow. Increased financing could help entrepreneurs invest in equipment, improve productivity and create additional employment opportunities.
Small businesses often face difficulties securing loans because of collateral requirements, limited credit histories and other banking conditions. Therefore, improving access to finance remains important for encouraging entrepreneurship and supporting businesses across different sectors.
The government’s target is expected to require greater coordination between financial institutions and relevant departments to expand lending and improve the availability of credit.
SMEDA To Expand Awareness And Business Support
Shehbaz Sharif also instructed the Small and Medium Enterprises Development Authority (SMEDA) to develop a comprehensive strategy to inform more people about loan eligibility and application procedures.
He called for feasibility studies covering business opportunities in different sectors. Experts will prepare these studies in local languages so aspiring entrepreneurs can understand the requirements and explore suitable ventures.
Additionally, an artificial intelligence-based helpline is being established to provide guidance and information in local languages. The facility is expected to help prospective business owners navigate financing options and access relevant support.
The prime minister said creating business opportunities in underdeveloped areas could reduce migration to major cities and promote balanced regional development. The government aims to encourage entrepreneurship while strengthening the contribution of small businesses to Pakistan’s economy.
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