Loans should be more accessible to SMEs, urges PM

ISLAMABAD: Prime Minister Shehbaz Sharif on Monday called on relevant institutions to expedite efforts to ensure that banks and financial institutions offer more accessible loans to small and medium-sized enterprises (SMEs), following concerns over the challenges faced by the sector.

The directive came during a high-level meeting to discuss the business plan of the Small and Medium Enterprises Development Authority (Smeda), which aims to boost the growth of SMEs across the country.

The prime minister highlighted the crucial role that SMEs play in Pakistan’s economy, asserting that their development could significantly enhance the country’s export potential. “The small and medium-sized businesses are the backbone of our economy, and there is immense potential to increase exports through their growth.”

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A detailed three-year roadmap for the promotion of SMEs was presented, outlining strategies to address the sector’s key challenges.

The prime minister commended the Haroon Akhtar, Special Assistant to the Prime Minister on Industries, and the newly-appointed Board of Directors of Smeda for their work in formulating the plan, which was described as both practical and effective.

In addition to discussing financial access, the meeting included a briefing on the ongoing efforts to improve the global competitiveness of the country’s SME sector. This includes strengthening cooperation with international partners and rolling out training programmes to prepare local businesses for the demands of the global market.

Recent workshops held across six cities to build the capacity of SMEs were also highlighted, along with new initiatives aimed at increasing women’s participation in the sector.

The meeting was attended by several senior officials, including Federal Minister for Information Ataullah Tarar, Haroon Akhtar, Governor State Bank of Pakistan (SBP) Jameel Ahmed, and the chief secretaries of the four provinces, Azad Jammu and Kashmir, and Gilgit-Baltistan.

New members of the Smeda Board and officials from relevant institutions were also present.

Copyright Business Recorder, 2026