PM Shehbaz emphasizes central role of SMEs in national economic growth
Prime Minister Shehbaz Sharif reaffirmed the government’s commitment to strengthening the small and medium enterprise (SME) sector, calling it a vital pillar of Pakistan’s economic development. Chairing a steering committee meeting of the Small and Medium Enterprise Development Authority (SMEDA), the Prime Minister stated that boosting small and medium-sized businesses is a top priority for his administration.
During the meeting, officials briefed the Prime Minister on key reforms and initiatives undertaken by SMEDA. It was revealed that, following the Prime Minister’s directives, companies with an annual turnover of up to Rs. 30 million have now been classified as micro-enterprises and brought under SMEDA’s operational framework. Additionally, a draft of the Women Entrepreneurship Policy has been finalized and will soon be submitted to the federal cabinet for approval.
The participants were also informed about the upcoming launch of a special digital portal for women entrepreneurs. Other ongoing initiatives include the development of a credit scoring model, a strategy to boost exports, and outsourcing work on a legal framework for SME subcontracting. Furthermore, SMEDA is conducting a survey in collaboration with the Federal Bureau of Statistics covering 20 key sectors of the economy.
Highlighting the strategic importance of the SME sector, Prime Minister Shehbaz Sharif noted that small and medium-sized industries play a crucial role in driving national progress and economic stability.
The meeting was attended by Federal Minister for Economic Affairs Ahad Khan Cheema, Federal Minister for Climate Change Dr. Musadik Malik, Federal Minister for IT and Telecom Shaza Fatima, Advisor to the PM Dr. Tauqir Shah, Special Assistant to the PM on Industries and Production Haroon Akhtar, MNA Nosheen Iftikhar, chief secretaries from all four provinces including Gilgit-Baltistan and Azad Jammu & Kashmir, SMEDA board members, and other senior government officials.
