LAHORE: Prime Minister Shehbaz Sharif has highlighted the importance of small and medium enterprises (SMEs), calling them the backbone of Pakistan’s economy.
During a meeting on Saturday focused on supporting SMEs and the Small and Medium Enterprises Development Authority (SMEDA), the prime minister said the government is making every effort to support businesses of all sizes. He stressed the need for collective efforts by the federal and provincial governments to include Pakistan’s industries in the global supply chain.
The meeting reviewed SMEDA’s performance, where officials shared updates on ongoing initiatives.
It was noted that SMEDA’s board, formed under the prime minister’s instructions, is now meeting regularly. Steps are being taken to engage international experts to boost the SME sector’s development.
The steering committee for SMEs now includes representatives from Azad Jammu and Kashmir and Gilgit-Baltistan. The State Bank of Pakistan has instructed banks to simplify loan application forms for SMEs, while the Ministry of Industries and Production is working closely with provincial governments to support the sector.
Sindh and Balochistan have already prepared detailed SME strategies, and similar strategies are being developed by Punjab, Khyber Pakhtunkhwa, Gilgit-Baltistan, and Azad Jammu and Kashmir. Additionally, data collection on SMEs across the country has started following the prime minister’s directives.
Federal Minister for Industries and Production Rana Tanveer Hussain and senior officials also attended the meeting.
