PM directs easier SME financing to boost Pakistan’s exports

Chairing a high-level meeting on the performance of the Small and Medium Enterprises Development Authority (SMEDA), the prime minister emphasized the need to simplify loan

ISLAMABAD: Prime Minister Shehbaz Sharif has instructed authorities to improve access to financing for small and medium-sized enterprises (SMEs) as part of the government’s strategy to strengthen Pakistan’s exports and economic growth.

Chairing a high-level meeting on the performance of the Small and Medium Enterprises Development Authority (SMEDA), the prime minister emphasized the need to simplify loan procedures and provide greater financial support to SMEs, particularly those involved in agricultural processing. He said farmers and entrepreneurs should receive both awareness and financial assistance to establish businesses focused on processing crops and fruits, helping increase the value of Pakistan’s agricultural exports.

Shehbaz Sharif also called for commercial banks to introduce dedicated financial products tailored to the needs of SMEs. He directed relevant institutions to assist businesses in preparing feasibility studies and completing other technical requirements needed to obtain financing.

Highlighting the sector’s importance to the national economy, the prime minister said urgent measures were needed to remove barriers hindering SME growth. He urged SMEDA to actively support young entrepreneurs, including women, by providing guidance and assistance in launching and expanding small and medium-sized businesses.

During the meeting, officials briefed the prime minister on SMEDA’s ongoing initiatives to strengthen the SME sector. The briefing revealed that 700 Pakistani SMEs are scheduled to participate in 16 international trade events this year to improve access to global markets and increase export opportunities. Officials also shared that training programs on financial regulations and business development have been conducted for SMEs in 35 cities across the country.

The prime minister further directed SMEDA to work closely with the State Bank of Pakistan and commercial banks to develop a comprehensive framework aimed at improving SMEs’ access to credit and expanding financial inclusion.

The meeting was attended by Deputy Prime Minister and Foreign Minister Senator Ishaq Dar, Federal Minister Dr. Musadik Malik, Special Assistant to the Prime Minister Haroon Akhtar, senior government officials, chief secretaries of all four provinces, and industry experts who joined via video link.