Prime Minister Shehbaz Sharif on Monday directed relevant institutions to fast-track measures that make bank financing more accessible for small and medium-sized enterprises (SMEs), signaling renewed government focus on strengthening one of Pakistan’s most important economic sectors.
The directive was issued during a high-level meeting convened to review the business plan of the Small and Medium Enterprises Development Authority (SMEDA), which aims to accelerate SME growth and improve their contribution to the national economy.
Emphasising the importance of the sector, the prime minister described SMEs as the backbone of Pakistan’s economy, noting that their expansion could play a decisive role in boosting exports, employment, and industrial productivity.
“Small and medium-sized businesses hold enormous potential,” the prime minister said, adding that stronger SMEs could significantly enhance Pakistan’s export base and overall economic resilience.
Three-year roadmap for SME expansion
During the meeting, officials presented a comprehensive three-year roadmap designed to address long-standing challenges faced by SMEs, particularly access to finance, skills development, and competitiveness in international markets.
The plan outlines targeted strategies to improve credit availability, promote innovation, and integrate SMEs into global value chains. The prime minister appreciated the roadmap, describing it as practical, realistic, and aligned with market needs.
He also commended Haroon Akhtar, Special Assistant to the Prime Minister on Industries, along with the newly appointed SMEDA Board of Directors, for developing a focused and results-oriented plan.
Improving access to finance and global competitiveness
A key focus of the discussion was improving SME access to loans through banks and financial institutions. The prime minister urged closer coordination between government bodies and the banking sector to remove procedural hurdles and encourage lending to small businesses.
The meeting also reviewed ongoing initiatives aimed at enhancing the global competitiveness of Pakistani SMEs, including partnerships with international organisations and capacity-building programmes tailored to export-oriented businesses.
Officials highlighted recent training workshops held in six cities, which were designed to strengthen SME management skills and prepare entrepreneurs for global market demands. Special initiatives to increase women’s participation in the SME sector were also shared, reflecting the government’s broader inclusion agenda.
Broad institutional support
The meeting brought together key stakeholders, including Federal Minister for Information Ataullah Tarar, Jameel Ahmed, Governor of the State Bank of Pakistan, chief secretaries of all four provinces, as well as representatives from Azad Jammu and Kashmir and Gilgit-Baltistan.
Newly appointed members of the SMEDA Board and officials from relevant institutions also participated, underlining broad-based institutional backing for SME-led growth.
The renewed push reflects the government’s intent to empower SMEs as engines of growth, exports, and job creation, offering fresh optimism for entrepreneurs across Pakistan.
