ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif has issued directives for the development of a comprehensive strategy aimed at improving access to financing for Small and Medium Enterprises (SMEs), in a coordinated effort with the State Bank of Pakistan and commercial banks. The goal of the initiative is to bolster the nation’s export capacity by facilitating loan access for SMEs.

According to Radio Pakistan, the Prime Minister chaired a review meeting focusing on the Small and Medium Enterprises Development Authority (SMEDA). He emphasized the need for greater facilitation in extending loans to SMEs, particularly to those involved in the agricultural sector, aiming to enhance their capacity in processing agricultural produce and fruits.

Prime Minister Sharif also highlighted the importance of commercial banks developing dedicated financial products to cater to the lending needs of SMEs. He instructed that support be extended to SMEs in preparing feasibility studies and overcoming other challenges that may hinder their growth.

Furthermore, the Prime Minister directed SMEDA to play an active role in assisting young entrepreneurs, including women, in establishing SMEs. He underscored the urgency of removing barriers that impede the growth of the SME sector, viewing it as crucial for economic development.