Prime Minister Shehbaz Sharif said Thursday that the government favors small and medium -sized enterprises (SMEs) and employment for young people to stimulate economic growth and job creation.
Chairing a meeting of the steering committee of the Small and Medium Enterprises Development Authority (SMEDA), the PM has led the recruitment of qualified personnel and underlined the need for professional training in the SME sector.
He highlighted the role of SMEDA in strengthening the rural economy and ordered an expansion of his interest -free loan program to include all rural populations, especially women.
Prime Minister Shehbaz also asked the merger of all federal vocational training institutions to a single entity to rationalize efforts.
The meeting was informed that micro-enterprises have been integrated into the SME sector, and a complete policy is under development. The representation of the private sector on the Smeda board of directors is also being improved.
The Ministry of Commerce and Smeda collaborate to identify export opportunities for SMEs, with a new performance management framework defined to improve efficiency.
In addition, Smeda led 28 training programs, benefiting 953 participants, while an export aid program and a financial literacy initiative are underway.
During a distinct meeting on the national youth employment plan, Prime Minister Shehbaz approved a strategy to align vocational training on market and industry demands.
He announced that he would personally oversee the monthly progress of the plan and urged the authorities to liaise with local industries to ensure that training aligns with the needs of the workforce.
“Pakistan talented young people are the most precious asset in the country,” he said, adding that the government is committed to empower them through vocational training and skills development.
The officials informed the Prime Minister that between 2.4 million and 6 million young people will receive vocational training over the next four years to improve their employability.
A digital youth center should also be launched this month, aimed at connecting young job seekers to training and employment possibilities.
Prime Minister Shehbaz welcomed the efforts of all the ministries involved and reaffirmed the government’s commitment to create job possibilities for young people in Pakistan.
