ISLAMABAD: Prime Minister Shehbaz Sharif on Monday directed that the total value of loans for small and medium-sized enterprises (SMEs) be increased from Rs1.1 trillion to Rs2.2 trillion by 2028 to support business growth across Pakistan.
Chairing a meeting on reforms at the Small and Medium Enterprises Development Authority (SMEDA), the prime minister said SMEs had immense potential to drive economic growth and stressed the need to empower entrepreneurs through improved access to finance and business opportunities.
He directed SMEDA to develop a comprehensive strategy to raise awareness about business loans, explain the procedures for obtaining financing and encourage entrepreneurship across the country.
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The prime minister also called for feasibility studies for establishing SMEs in various sectors to be prepared by relevant experts and made available in local languages, enabling aspiring entrepreneurs to benefit from practical business guidance.
Emphasising the importance of developing underdeveloped areas, Sharif said empowering local communities and providing opportunities to establish businesses would help reduce migration to major cities and promote balanced national development.
During the meeting, officials briefed the prime minister on reforms aimed at transforming SMEDA into a central platform that would provide training to aspiring entrepreneurs and facilitate their access to bank financing.
Offices are being established across the country to improve SMEDA’s outreach to the SME sector, while an artificial intelligence-powered helpline is being developed to provide information and guidance to citizens in local languages.
The briefing also highlighted a memorandum of understanding signed between global e-commerce company Alibaba and SMEDA under which 10,000 SMEs would receive training over two years.
Officials said reforms were also under way to make the SME digital portal more efficient and user-friendly.
The meeting was attended by federal ministers Rana Tanveer, Jam Kamal, Musadik Malik, Ahad Cheema, Attaullah Tarar, Chaudhry Salik Hussain, State Minister for Finance Bilal Kiani, adviser to the prime minister on industries and production Haroon Akhtar, Chairman Prime Minister’s Youth Programme Rana Mashhood, and senior officials from relevant departments.
Copyright Business Recorder, 2026