PM Calls for Faster SME Financing to Boost Exports

Prime Minister Muhammad Shehbaz Sharif on Monday urged quicker financing for small and medium enterprises (SMEs) as they have strong potential to increase Pakistan’s exports and strengthen the national economy.

He directed relevant institutions to accelerate measures to ensure the provision of loans to SMEs on easy terms through banks and other financial institutions. He stressed that improved access to financing was critical for the sustainable growth of the sector.

The prime minister made these remarks while chairing a meeting in Islamabad to review a business plan prepared by Small and Medium Enterprises Development Authority (SMEDA) for the promotion of small and medium enterprises. During the meeting, a three-year roadmap for the development of the SME sector was presented.

Shehbaz appreciated Special Assistant to the Prime Minister Haroon Akhtar and the newly appointed board of directors of SMEDA for formulating a practical and effective business plan.

During the briefing, officials highlighted the key challenges faced by SMEs, proposed measures to address these issues, and outlined strategies to integrate them into the country’s export framework. Other initiatives included in the business plan were also shared with the prime minister.

The meeting was also informed about steps being taken to further strengthen cooperation with various countries to introduce Pakistan’s SME sector in global markets on a competitive basis.

The briefing also covered initiatives aimed at increasing the participation and effective role of women in the SME sector.

The meeting was attended by Federal Minister for Information and Broadcasting Attaullah Tarar, Special Assistant Haroon Akhtar, Governor State Bank of Pakistan Jameel Ahmad, chief secretaries of all four provinces, Azad Jammu and Kashmir, and Gilgit Baltistan, members of SMEDA’s newly appointed board, and senior officials from relevant institutions.