Prime Minister Shehbaz Sharif has directed authorities to increase financing for small and medium-sized enterprises (SMEs) from Rs1.1 trillion to Rs2.2 trillion by 2028 to promote entrepreneurship and strengthen the national economy.
The directive was issued during a meeting chaired by the prime minister to review initiatives aimed at supporting the Small and Medium Enterprises Development Authority (SMEDA), promoting small businesses and empowering entrepreneurs.
Shehbaz Sharif called for a comprehensive strategy to make business loans more accessible to a larger number of people. He said small and medium-sized enterprises had significant potential to drive economic growth.
The prime minister also directed the relevant authorities to expand business opportunities in underdeveloped areas, raise public awareness about business activities and arrange feasibility studies by experts to help people establish businesses in different sectors.
He emphasised that providing economic opportunities to people in less-developed regions could help reduce migration to major cities while promoting local development and prosperity.
The government aims to strengthen the SME sector by improving access to financing and encouraging entrepreneurship across the country.
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