calls for assistance to SMEs in preparing feasibility studies and meeting the necessary requirements to obtain financing
Prime Minister Shehbaz Sharif chairs a meeting to review the results of the Small and Medium Enterprises Development Authority (SMEDA). PHOTO: PMO
Prime Minister Shehbaz Sharif on Tuesday directed officials to improve access to finance for small and medium enterprises (SMEs), including by facilitating loans to farmers to set up agricultural and fruit processing facilities and encouraging commercial banks to introduce dedicated loan products for the sector, according to a statement issued by the Prime Minister’s Office (PMO) on X.
Chairing a meeting to review the achievements of the Small and Medium Enterprises Development Authority (SMEDA), Prime Minister Shehbaz said that SMEs should have easier access to loans, especially to increase their production capacity and support export growth.
Deputy Prime Minister and Foreign Minister Ishaq Dar, Climate Minister Musadik Malik, Special Assistant Haroon Akhtar, senior government officials, the chief secretaries of all four provinces and industry experts attended the meeting, with some participants taking part via video link, according to the PMO.
The prime minister directed officials to facilitate awareness programs and financing for farmers seeking to set up agricultural produce and fruit processing facilities, while urging commercial banks to develop dedicated loan products for SMEs.
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Prime Minister Shehbaz also called for assistance to SMEs in preparing feasibility studies and completing other requirements needed to obtain funding, saying urgent steps were needed to remove obstacles hindering the sector’s growth.
He directed SMEDA to support young entrepreneurs, including women, in establishing small and medium enterprises.
During the meeting, officials briefed the Prime Minister about measures taken to support SMEs. They said participation of 700 Pakistani SMEs in 16 international events had been arranged this year to improve access to global markets and increase exports. Officials also said that SMEs in 35 cities had received training on financial regulations and business management.
The Prime Minister directed SMEDA to work with the State Bank of Pakistan and commercial banks to prepare a comprehensive strategy to improve SMEs’ access to credit.
