Prime minister emphasizes support for women entrepreneurs and export-focused businesses
ISLAMABAD – Prime Minister Shehbaz Sharif on Wednesday directed commercial banks to take concrete measures to improve access to easy loans for women entrepreneurs and small and medium enterprises (SMEs), while also helping them expand exports.
Chairing a high-level review meeting on government initiatives for SME development, the prime minister said the SME sector possessed significant potential for boosting Pakistan’s economy, generating employment and increasing exports.
PM stresses easier financing for SMEs
The premier appreciated the efforts of Special Assistant to the Prime Minister for Industries and Production Haroon Akhtar Khan and the Small and Medium Enterprises Development Authority (SMEDA) team for working on emergency measures to provide easier credit, digital financing, inclusion in the formal economy and better access to export markets.
He expressed satisfaction over the roadmap prepared by SMEDA and the Ministry of Industries and Production and directed officials to present a detailed implementation plan with measurable targets within a specified timeframe.
Agriculture processing sector to get SME status
Prime Minister Shehbaz Sharif also directed authorities to grant SME status to agriculture processing sectors to support value addition and industrial growth.
He welcomed initiatives aimed at increasing women’s participation in small and medium industries and emphasized inclusive economic development.
48 initiatives under implementation for SME growth
During the briefing, officials from SMEDA, the Ministry of Industries and Production, and the State Bank of Pakistan (SBP) informed the meeting that 48 initiatives were currently being implemented across eight strategic sectors for SME development.
Officials said these initiatives were expected to support growth targets over the next two to four years in a phased manner.
The meeting also reviewed annual targets and implementation progress.
Focus on exports, digital financing and formal economy
Participants were briefed on measures aimed at improving SMEs’ access to local and international markets through exhibitions and roadshows.
The meeting also discussed initiatives for:
• Easy and low-cost financing through commercial banks
• Strengthening value chains through vendor profiling
• Expanding the SME database
• Promoting inclusion in the formal economy
• Training and capacity-building programmes
SBP reports rise in SME lending
SBP Governor Jamil Ahmad informed the meeting that private sector lending stood at Rs1.1 trillion during the previous fiscal year.
He added that lending had already surpassed the target of Rs904 billion during the first three quarters of the current fiscal year, including a 28% increase in financing for SMEs.
Based on the improved performance, the target for SME financing by FY2028 has been raised from Rs1,100 billion to Rs1,500 billion.
The governor said the central bank was taking additional measures to encourage commercial banks to expand lending to SMEs.
Separate export financing window established
Officials informed the meeting that a dedicated export financing window had been established on the prime minister’s directives to support SMEs in accessing export markets.
According to the briefing, 41 new SMEs have already joined the programme to benefit from export financing facilities.
The meeting was attended by federal ministers, senior government officials, lawmakers, SBP representatives and SMEDA leadership.