Special Assistant to the Prime Minister on Industries and Production, Haroon Akhtar Khan, has announced that for the first time in Pakistan’s history, micro-enterprises will gain access to government-backed financial schemes and development services — a key step under Prime Minister Shehbaz Sharif’s vision of inclusive economic growth.
He made the remarks while addressing the signing ceremony of a Memorandum of Understanding (MoU) between the Small and Medium Enterprises Development Authority (SMEDA) and Mobilink Microfinance Bank Limited (MMBL) held at SMEDA’s head office on Friday. The agreement was signed by SMEDA CEO Socrat Aman Rana and MMBL President and CEO Haaris Mahmood Chaudhry. Federal Secretary for Industries and Production Saif Anjum was also present.
Haroon Akhtar said Pakistan is moving toward building a stronger, more inclusive SME sector under the leadership of Prime Minister Shehbaz Sharif. He noted that the government aims to foster a business environment where micro, small, and medium enterprises (MSMEs) can thrive, compete, and contribute to national prosperity. However, he pointed out that access to finance and low financial literacy remain major obstacles.
“This MoU is a significant step toward addressing these barriers,” he said. “Both institutions will jointly provide loans and business development services to small enterprises across Pakistan’s towns and villages.”
He further shared that the government has introduced a dedicated policy to promote women entrepreneurship, ensuring their active participation in the MSME sector. He added that efforts are also underway to bring informal micro and small businesses into the formal economy, enabling them to benefit from state facilitation programs.
Speaking at the event, Secretary of the Ministry of Industries and Production, Saif Anjum, praised the initiative, saying it aligns with the Prime Minister’s vision and SAPM Haroon Akhtar’s guidance to strengthen the SME sector. He expressed hope that SMEDA’s outreach network would be instrumental in organizing financial literacy and business capacity-building programs, while MMBL would help link small enterprises with innovative financial products and lending opportunities.
Earlier, SMEDA CEO Socrat Aman Rana highlighted that Pakistan’s total microfinance portfolio stands at over Rs650 billion, with Microfinance Banks contributing 71.3 percent. He said female borrowers currently account for 34.8 percent of total lending — a sign of progress, but also a reminder of the need for more inclusive growth.
He noted that SMEDA has already partnered with the Pakistan Microfinance Network and Akhuwat to expand microfinancing opportunities. “This new partnership with Mobilink Bank will further empower small and micro-enterprises by improving financial literacy, access to finance, and data-driven policymaking,” he added.
MMBL President and CEO Haaris Mahmood Chaudhry said the partnership underscores the vital role of microfinance in driving Pakistan’s socio-economic growth. “By combining digital finance, training, and access to credit, we are helping build a stronger ecosystem that enables small businesses and drives sustainable progress,” he remarked.
