Prime Minister Shehbaz Sharif on Wednesday directed that the commercial banks take steps to ensure the access of women entrepreneurs and small and medium enterprises (SMEs) to easy loans, besides assisting them in exporting their products.
The prime minister, chairing a review meeting here regarding government measures for the uplift of SMEs, said that the SMEs held full potential for the development of the national economy and increasing the exports.
He said it was encouraging that Special Assistant to PM for Industries and Production Haroon Akhtar Khan and his SMEDA team were working on an emergency basis to provide easy credit, digital financing, inclusion in the formal economy, and access to export markets for SMEs.
He expressed satisfaction with the roadmap prepared by SMEDA and the Ministry of Industries, directing to present an implementation plan with achievable targets within a specified timeframe.
He directed that processing sectors in agriculture be given the status of SMEs and also welcomed the steps taken for the inclusion of women in small and medium industries.
During the briefing by SMEDA, the Ministry of Industries and Production, and the State Bank of Pakistan, it was informed that 48 initiatives were being implemented in eight strategic sectors for the development of SMEs, which would ensure the achievement of growth targets over the next two and four years in phased manner.
A report on this year’s targets and their implementation was also presented.
The participants were also briefed on access to local and export markets through roadshows and exhibitions, increased investment through easy and low-cost loans from banks, strengthening of value chains through vendor profiling, and measures for inclusion in the formal economy through the establishment of an SME database.
The meeting was also briefed on SMEDA Board initiatives and training programs for SME development.
The Governor of the State Bank informed the meeting that while private sector lending was Rs 1.1 trillion in the last fiscal year, the loan amount has already crossed the target of Rs 904 billion in the first three quarters of the current year, which includes a 28 percent increase in loans for small and medium industries.
Based on this, the target for providing loans to SMEs by the fiscal year 2028 has been increased from Rs 1,100 billion to 1,500 billion rupees. It was further stated that the State Bank is taking more steps to encourage commercial banks to provide loans.
Highlighting measures for export market access and export financing for SMEs, the meeting was informed that a separate window for export financing has been established on the Prime Minister’s instructions. Additionally, 41 new SMEs have joined to benefit from these measures.
The meeting was attended by Federal Ministers Azam Nazeer Tarar, Jam Kamal Khan, Dr. Musadik Malik, Ahad Khan Cheema, Muhammad Aurangzeb, Minister of State Bilal Azhar Kayani, Special Assistant Haroon Akhtar, Members of the National Assembly Syeda Nosheen Iftikhar, Mohsin Shahnawaz Ranjha, Governor State Bank Jamil Ahmed, CEO SMEDA Nadia Sethi, and other high-ranking officials.
