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ISLAMABAD: Prime Minister Shehbaz Sharif has announced measures to support Small and Medium Enterprises (SMEs) in Pakistan, including an increase in loan amounts and initiatives for women entrepreneurs. The announcement came during a meeting focused on SME development held in Islamabad.
According to a statement by Ministry of Information and Broadcasting, the Prime Minister has directed that the maximum loan amount under the Prime Minister’s Youth Program be raised from 500,000 rupees to 1.5 million rupees. This move aims to provide SMEs with greater financial resources to expand their operations.
During the meeting, Shehbaz Sharif emphasized the importance of adopting international models to enhance the services offered to SMEs. He reiterated the government’s dedication to facilitating SMEs, highlighting their critical role in boosting economic growth and exports.
The Prime Minister also underscored the need for a special package to support women entrepreneurs in small businesses, part of a broader strategy to empower youth and women and promote self-employment and job creation.
The meeting detailed the simplification of the loan application process for SMEs, aiming to make financial assistance more accessible. Additionally, the Small and Medium Enterprises Development Authority (SMEDA) is set to launch a financial literacy and training program for SMEs by February. Plans to introduce modern technology to SMEs are expected to be finalized and launched by mid-year.
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