ISLAMABAD: Prime Minister Shehbaz Sharif has directed immediate steps to conduct a comprehensive survey of small and medium enterprises (SMEs) across the country to provide them with enhanced support.
During a meeting held in Islamabad on Thursday, the prime minister ordered that the loan limit for small businesses under the Prime Minister’s Youth Program be increased from Rs500,000 to Rs1.5 million.
In addition to this, Shehbaz Sharif emphasized the need for designing a special package aimed at women entrepreneurs in small businesses. He highlighted the importance of adopting international best practices and models from developed nations to bring the facilities offered to SMEs in line with global standards.
The Prime Minister reiterated his government’s commitment to facilitating the growth of small and medium enterprises, recognizing their vital role in driving economic development. He emphasized that supporting SMEs is essential for boosting exports and increasing employment opportunities.
He further emphasized the government’s focus on empowering youth and women entrepreneurs, enabling them to not only create self-employment opportunities but also generate jobs for others.
In line with these objectives, the meeting also reviewed efforts to simplify the loan application process for SMEs, making it more accessible for a larger number of enterprises.
Additionally, the Prime Minister was briefed on the upcoming launch of financial literacy and training programs for SMEs, which are expected to start by February this year. By mid-year, a program to introduce SMEs to modern technology will also be rolled out.
Shehbaz Sharif concluded the meeting by reiterating the government’s determination to promote SMEs as a cornerstone of the country’s economic development.
