PM Shehbaz orders improved loan access for SMEs, farmers to boost exports

Calls for assistance to SMEs in preparing feasibility studies, completing requirements needed to obtain financing

Prime Minister Shehbaz Sharif on Tuesday directed officials to improve access to financing for small and medium-sized enterprises (SMEs), including by facilitating loans for farmers to establish agricultural and fruit processing facilities and encouraging commercial banks to introduce dedicated lending products for the sector, according to a statement issued by the Prime Minister's Office (PMO) on X.

Chairing a meeting to review the performance of the Small and Medium Enterprises Development Authority (SMEDA), PM Shehbaz said SMEs should be provided with easier access to loans, particularly to increase their production capacity and support export growth.

Deputy Prime Minister and Foreign Minister Ishaq Dar, Climate Minister Musadik Malik, Special Assistant Haroon Akhtar, senior government officials, the chief secretaries of all four provinces, and industry experts attended the meeting, with some participants joining via video link, according to the PMO

The prime minister instructed officials to facilitate awareness programmes and financing for farmers seeking to establish processing facilities for agricultural produce and fruit, while urging commercial banks to develop dedicated lending products for SMEs.

Read: PM directs embassies to boost overseas jobs

PM Shehbaz also called for assistance to SMEs in preparing feasibility studies and completing other requirements needed to obtain financing, saying urgent steps were needed to remove obstacles hindering the sector's growth.

He directed SMEDA to support young entrepreneurs, including women, in establishing small and medium-sized businesses.

During the meeting, officials briefed the prime minister on measures taken to support SMEs. They said participation of 700 Pakistani SMEs in 16 international events had been arranged this year to improve access to global markets and increase exports. Officials also said SMEs in 35 cities had received training on financial regulations and business management.

The prime minister instructed SMEDA to work with the State Bank of Pakistan and commercial banks to prepare a comprehensive strategy to improve SMEs' access to credit.