Prime Minister Shehbaz Sharif has directed a 200% increase in the loan limit for Small and Medium Enterprises (SMEs), raising it from Rs. 500,000 to Rs. 1.5 million. The decision was made during a review meeting held in Islamabad today, aimed at strengthening the SME sector and promoting economic growth.
The Prime Minister emphasized the need to align Pakistan’s SME support systems with global standards and called for the creation of a special package to encourage women entrepreneurs. He highlighted the importance of increasing women’s participation in the economy and supporting small-scale businesses.
During the meeting, officials briefed the Prime Minister on ongoing initiatives to simplify loan application processes, reclassify SMEs for broader access to government support, and introduce a new category for small businesses run by housewives. These measures aim to make government assistance more accessible and inclusive.
The Pakistan Bureau of Statistics shared preliminary SME data collected from three major cities, which will serve as the foundation for a nationwide survey in the coming months. This data will help shape future policies and programs for the SME sector.
The Small and Medium Enterprises Development Authority (SMEDA) announced plans to launch a financial literacy and training program by February 2025. Additionally, a technology adoption initiative is set to roll out by mid-2025 to help SMEs modernize and improve efficiency.
The meeting was attended by federal ministers, provincial chief secretaries, and representatives from the SME sector, reflecting the government’s commitment to fostering collaboration and innovation in the sector.
