AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Islamabad: Prime Minister Muhammad Shehbaz Sharif has directed that a comprehensive strategy be formulated, in coordination with the State Bank of Pakistan and commercial banks, to improve Small and Medium Enterprises’ access to financing. He was chairing a review meeting on the Small and Medium Enterprises Development Authority (SMEDA) in Islamabad.
According to Radio Pakistan, the Prime Minister stressed that greater facilitation should be provided for extending loans to SMEs to boost the country’s exports. Shehbaz Sharif directed that support be provided to enhance the capacity of SMEs, particularly by creating awareness and facilitating access to loans for farmers engaged in the processing of agricultural produce and fruits.
Shehbaz Sharif said commercial banks should be encouraged to develop dedicated financial products for lending to SMEs. The Prime Minister further instructed that SMEs be assisted in preparing feasibility studies and provided support at other stages. He emphasized that urgent measures are needed to remove obstacles hindering the growth of the SME sector.
The Prime Minister also directed SMEDA to assist young entrepreneurs, including women entrepreneurs, in establishing small and medium-sized enterprises.