Prime Minister Shehbaz Sharif has ordered carrying out immediate and a comprehensive survey of small and medium enterprises (SMEs) for provision of facilities to them, reported 24NewsHD TV channel.
Chairing a meeting related to SMEs in Islamabad on Thursday, the prime minister directed that the loan amount for small businesses under the Prime Minister's Youth Program be increased from half a million rupees to 1.5 million rupees.
He said a special package for women entrepreneurs in small businesses should also be designed.
Shehbaz Sharif emphasized the adoption of models from developed countries to align the facilities provided to SMEs with international standards.
The Prime Minister reiterated commitment to facilitating small and medium enterprises in order to encourage workforce to engage in business activities.
The Prime Minister noted that SMEs play a key role in the economic development worldwide. He said it is the government's top priority to promote SMEs in order to increase the country’s exports.
Shehbaz Sharif further highlighted that the government is working to empower youth and women entrepreneurs in such a way that they not only create self-employment opportunities but also generate additional job opportunities.
The meeting was informed that on the directions of the Prime Minister, the loan application process for SMEs has been simplified so that a greater number of enterprises can benefit from the loan facility for the improvement of their businesses.
It was informed that SMEDA will launch a financial literacy and training program for SMEs by February this year. Additionally, a program to introduce SMEs to modern technology will also be finalized and launched by mid-year.
Reporter Awais Kiyani