Government prioritizing SME growth: PM

March 07, 2025 (MLN): The government is working on a priority basis to promote small and medium-sized businesses, Prime Minister Shehbaz Sharif has said.

He chaired a steering committee meeting of the Small and Medium Enterprises Development Authority (SMEDA) in Islamabad.

During the meeting, the Prime Minister directed SMEDA to recruit skilled professionals from the market, ensuring a transparent hiring process for an internationally competitive workforce with market-aligned salaries.

He emphasized the need for professional training for labor in the SME sector and recognized SMEDA's crucial role in strengthening the rural economy, as per the press release.

Additionally, he instructed the development of a plan to expand SMEDA's interest-free loan program to all rural communities, including women.

He also ordered the merger of all federal-level vocational training institutions into a single entity.

The meeting was informed that, under the Prime Minister’s directive, micro-enterprises have been incorporated into the SME sector, and a comprehensive policy is being formulated.

It was also noted that private sector representation on the SMEDA board is being increased.

Further briefings highlighted ongoing efforts to enhance SMEDA’s workforce with skills training and modern technology.

The Ministry of Commerce and SMEDA are collaborating to identify suitable companies for export opportunities, while a strong performance management framework is being established within SMEDA.

It was reported that SMEDA has organized 28 seminars and training sessions for the SME sector, attended by 953 participants.

A financial literacy program is being launched, with recruitment for this initiative already completed.

Additionally, an export assistance program is being introduced to support SME exports, and the legal framework for subcontracting in the SME sector is being developed, with expert recruitment set to begin soon.

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