Prime Minister Shehbaz Sharif said on Thursday that the government is prioritizing small and medium -sized businesses (SMEs) and youth employment education to drive economic growth and job creation.
The purpose of a management committee meeting in the small and medium -sized enterprises Development Authority (Smeda), the Prime Minister led the recruitment of qualified staff and emphasized the need for professional training in the SME sector.
He highlighted Smeda’s role in strengthening the rural economy and ordering an extension of his interest -free loan program to include all rural areas, especially women.
PM Shehbaz also instructed the merger of all federal vocational education institutions to a single unit to streamline the effort.
The meeting was informed that micro-companies have been integrated into the SME sector and a comprehensive policy is under development. The private sector’s representation on the Smeda board is also increasing.
The Ministry of Commerce and Smeda is working together to identify export opportunities for SMEs with a new Performance Management framework set to improve efficiency.
In addition, Smeda has completed 28 training programs that benefited 953 participants, while an export assistant program and an economic literacy initiative are in pipeline.
At a separate meeting on the National Youth Employment Plan, Prime Minister Shehbaz approved a strategy to adapt vocational education with market and industry requirements.
He announced that he would personally oversee the plan’s monthly progress and called on the authorities to cooperate with local industries to ensure that the education is in accordance with workforce needs.
“The talented youth in Pakistan is the country’s most valuable asset,” he said, adding that the government is obliged to strengthen them through vocational education and skills development.
Officials informed the Prime Minister that between 2.4 million and 6 million young people will receive vocational education in the next four years to improve their employment.
A digital youth hub is also set to be launched this month with the aim of connecting young job seekers with education and employment opportunities.
PM Shehbaz praised the efforts of all ministries involved and confirmed the government’s obligation to create employment opportunities for Pakistan’s youth.
