Calls to help SMEs prepare feasibility studies and meet conditions to obtain financing
Prime Minister Shehbaz Sharif chairs a meeting to review the performance of the Small and Medium Enterprises Development Authority (SMEDA). PHOTO: Office of the Prime Minister
Prime Minister Shehbaz Sharif on Tuesday directed officials to improve access to finance for small and medium enterprises (SMEs), including facilitating loans to farmers to establish processing facilities for agricultural and fruit produce 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 performance of the Small and Medium Enterprises Development Authority (SMEDA), Prime Minister Shehbaz said SMEs should benefit from 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, chief secretaries of the four provinces and industry experts attended the meeting, with some participants joining via video link, according to the Prime Minister’s Office.
The Prime Minister asked officials to facilitate awareness and financing programs for farmers seeking to establish agricultural 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 helping SMEs prepare feasibility studies and fulfill other necessary conditions to obtain financing, saying urgent measures were needed to remove obstacles hindering the growth of the sector.
He asked SMEDA to support young entrepreneurs, including women, in setting up small and medium enterprises.
During the meeting, officials briefed the Prime Minister on the measures taken to support SMEs. They said participation of 700 Pakistani SMEs in 16 international events was organized this year to improve access to global markets and increase exports. Officials also said SMEs in 35 cities received training on financial regulations and business management.
The Prime Minister tasked SMEDA to work with the State Bank of Pakistan and commercial banks to prepare a comprehensive strategy to improve SMEs’ access to credit.
