Prime Minister Shehbaz Sharif on Monday highlighted the critical role of small and medium enterprises (SMEs) in Pakistan’s economy, directing the acceleration of soft loans and financial support to strengthen their growth and export potential.

A high-level meeting chaired by the prime minister reviewed the business plan of the Small and Medium Enterprises Development Authority (SMEDA), presenting a three-year roadmap to promote SMEs nationwide.

PM Shehbaz praised Special Assistant Haroon Akhtar and SMEDA’s newly elected board for designing a practical and effective plan.

He underscored that SMEs are the backbone of Pakistan’s economy, with substantial potential to increase exports if properly supported.

PM directs expedited loan provision

During the meeting, the Prime Minister instructed relevant institutions to speed up efforts to provide soft loans and financing facilities to SMEs through banks and other financial institutions.

A detailed briefing highlighted the challenges faced by SMEs, strategies to integrate them into international trade, and other measures outlined in SMEDA’s business plan.

Enhancing global competitiveness

Officials briefed the PM on ongoing initiatives to strengthen Pakistan’s SME sector internationally. These include:

Expanding cooperation with foreign partners to introduce Pakistani SMEs in global markets.
Organizing workshops in six cities to boost SME capacity.
Developing training programs to prepare SMEs for international competition.

The meeting also focused on ensuring active participation of women in the SME sector, aiming for inclusive growth and empowerment within this key economic segment.

The meeting was attended by Federal Minister for Information and Broadcasting Attaullah Tarar, Special Assistant Haroon Akhtar, Governor State Bank Jamil Ahmed, Chief Secretaries of all provinces, Azad Jammu and Kashmir and Gilgit-Baltistan, SMEDA board members, and officers from relevant institutions.