Pakistan PM Directs Banks to Ease Loans for SMEs and Women Entrepreneurs

Prime Minister Shehbaz Sharif has directed commercial banks in Pakistan to facilitate easier access to loans for women entrepreneurs and small and medium enterprises (SMEs). During a review meeting focused on economic upliftment, the Prime Minister emphasized the critical role of SMEs in boosting national exports and economic development. He instructed the Small and Medium Enterprises Development Authority (SMEDA) and the Ministry of Industries to present a concrete implementation plan with achievable targets. Key measures discussed include granting SME status to agricultural processing sectors, establishing a separate window for export financing, and creating a comprehensive SME database to formalize the economy. The State Bank Governor reported that private sector lending has already surpassed annual targets, prompting an increase in the loan provision target to Rs 1,500 billion by fiscal year 2028. Additionally, the Prime Minister reaffirmed commitments to youth empowerment through the Prime Minister’s Youth Programme, focusing on IT education, vocational training, and unified loan schemes for young entrepreneurs. The government aims to align university IT curricula with international standards and provide electric bikes to low-income youth, demonstrating a dual focus on industrial growth and human capital development.