ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday directed the Small and Medium Enterprises Development Authority (SMEDA) to facilitate the provision of loans to small and medium enterprises (SMEs) to boost the country’s exports.
The prime minister, chairing a high-level review meeting to discuss matters related to SMEDA, emphasized the need to enhance the capacity of SMEs and instructed that special facilitation, awareness, and access to easy credit should be provided to farmers for the processing of agricultural commodities and fruits.
He called for encouraging the commercial banks to design specialized financial products tailored specifically for the credit needs of SMEs, directing comprehensive assistance for SMEs during the preparation of feasibility studies and other stages.
Prime Minister Shehbaz directed the relevant authorities to formulate a comprehensive strategy in collaboration with the State Bank of Pakistan (SBP) and commercial banks to streamline and improve SMEs’ access to credit.
Calling for immediate steps to eliminate hurdles in the growth of SMEs, the prime minister stressed that SMEDA must actively support young entrepreneurs, including women, in establishing their own small and medium businesses.
Earlier, the meeting was briefed on various initiatives taken by SMEDA to facilitate the sector. It was told that 700 SMEs participated in 16 international events this year to enhance their access to global markets and boost exports. Besides, business and financial management training was also provided to SMEs across 35 cities.
The meeting was attended by Deputy Prime Minister and Foreign Minister Senator Ishaq Dar, Federal Minister Dr. Musadik Malik, Special Assistant to the PM Haroon Akhtar, and senior officials. The chief secretaries of all four provinces, along with experts, joined the meeting via video link.
