ISLAMABAD: Prime Minister Shehbaz Sharif on Monday said that the growth of small and medium enterprises (SMEs) has strong potential to significantly increase Pakistan’s exports, describing the sector as the backbone of the national economy.
Chairing a high-level meeting on the SMEDA business plan, the prime minister reviewed a three-year roadmap aimed at promoting small and medium-sized businesses across the country. The plan outlines practical steps to address key challenges faced by SMEs and to bring them into the export supply chain.
The prime minister appreciated Special Assistant Haroon Akhtar and the newly appointed Board of Directors of SMEDA for preparing a workable and result-oriented plan. He said that if SMEs are given the right support at the right time, they can turn the tide for the country’s economy and help Pakistan stand on its own feet.
During the meeting, Prime Minister Shehbaz Sharif directed relevant authorities to speed up measures to ensure the provision of loans to SMEs on easy terms through banks and other financial institutions. He stressed that access to finance remains a major hurdle for small businesses and removing this obstacle is the need of the hour.
Officials briefed the meeting on problems faced by SMEs, steps being taken to resolve these issues, and strategies to make local businesses competitive in international markets. The prime minister was also informed about ongoing cooperation with different countries to introduce Pakistan’s SME sector globally on a competitive basis.
The briefing highlighted that several workshops have recently been held in six cities to build the capacity of SMEs, while multiple training programmes are underway to prepare small businesses for global competition. Efforts to enhance women’s participation in the SME sector were also discussed, with officials sharing initiatives aimed at increasing their role and contribution.
The meeting was attended by Federal Minister for Information and Broadcasting Attaullah Tarar, Special Assistant Haroon Akhtar, Governor State Bank of Pakistan Jameel Ahmad, chief secretaries of all four provinces, Azad Jammu and Kashmir, and Gilgit-Baltistan, along with members of SMEDA’s board and senior officials of relevant departments.
