PM Directs Fast-Tracking of Easy Loans for Small and Medium Enterprises

Islamabad: Prime Minister Muhammad Shehbaz Sharif has directed relevant authorities to accelerate the provision of easy loans for small and medium-sized enterprises (SMEs), saying that the growth of SMEs holds immense potential to boost the country’s exports.

The directive was issued during a meeting chaired by the Prime Minister to review the business plan of the Small and Medium Enterprises Development Authority (SMEDA) aimed at promoting SMEs across the country. During the meeting, a three-year roadmap for the development of small and medium-sized businesses was presented.

Prime Minister Shehbaz Sharif appreciated Special Assistant Haroon Akhtar and the newly elected SMEDA Board of Directors for formulating a practical and effective plan. He emphasized that SMEs are the backbone of the national economy and that their development can significantly enhance Pakistan’s export capacity.

During the meeting, the Prime Minister instructed concerned institutions to speed up measures for providing loans to SMEs on easy terms through banks and other financial institutions. A detailed briefing was given on the challenges faced by SMEs, strategies to address these issues, plans to integrate SMEs into the national export framework, and other initiatives included in the business plan.

The Prime Minister was also briefed on ongoing efforts to expand cooperation with various countries to introduce Pakistan’s SME sector to global markets on a competitive basis.

It was informed that several workshops have recently been held in six cities to build the capacity of local SMEs, while multiple training programs are currently underway to prepare small and medium-sized businesses for international competition.

The meeting also reviewed initiatives aimed at encouraging women’s participation and strengthening their role in the SME sector. Federal Minister for Information and Broadcasting Attaullah Tarar, Special Assistant Haroon Akhtar, State Bank Governor Jameel Ahmad, chief secretaries of all four provinces, Azad Jammu and Kashmir, Gilgit-Baltistan, members of the newly elected SMEDA board, and officials from relevant departments attended the meeting.