ISLAMABAD: Deputy Chairman Senate Syedaal Khan has characterized Small and Medium Enterprises (SMEs) as the backbone of Pakistan’s economy, emphasizing the necessity of expanding entrepreneurial opportunities for youth and women to sustain economic growth. Speaking at the International SMEs Excellence Awards 2026 in Islamabad, Khan stressed the importance of facilitating access to finance, technology, and global markets for these groups.

According to Senate of Pakistan, the event was organized by the Rawalpindi Chamber of Small Traders and Small Industries, where Khan acknowledged the efforts of the chamber’s leadership and commended the innovation and commitment of Pakistan’s entrepreneurs. Highlighting the presence of approximately 7.14 million SMEs in the country, he noted the critical role they play in strengthening families, communities, and the nation’s economic future.

Khan urged for a shift from job-seeking to job-creating among Pakistan’s youth, asserting that successful entrepreneurs not only generate personal income but also create employment for others. He identified the youth as Pakistan’s most valuable asset, advocating for improved access to skills, capital, technology, and mentorship to help them transform ideas into successful ventures.

Addressing financial challenges faced by SMEs, Khan appreciated government initiatives promoting SME financing and highlighted the 2026-28 Access to Finance Plan’s focus on affordable credit. He also stressed the importance of women’s economic empowerment, advocating for enhanced access to finance, training, and market opportunities for women entrepreneurs.

Khan encouraged Pakistani SMEs to expand beyond domestic markets by utilizing e-commerce and digital marketing to integrate into global value chains. He underscored Parliament’s role in establishing a business-friendly environment through policy development and assured the business community of its commitment to addressing economic challenges.

In conclusion, Khan congratulated the award recipients, viewing their success as a call for continued innovation and responsibility, and expressed hope that their achievements would inspire and motivate Pakistan’s youth.