PM Shehbaz directs doubling of SME financing to Rs2.2 trillion by 2028

Prime Minister Shehbaz Sharif has ordered that SME lending be doubled by 2028, rising from Rs1.1 trillion to Rs2.2 trillion. Profit by Pakistan Today reported that this target comes alongside reforms intended to make borrowing for businesses easier, along with instruction and technical help. At a session in Islamabad on the Small and Medium Enterprises Development Authority, he asked for a detailed action plan to make people more aware of funding options and promote entrepreneurship nationwide.

He asked SMEDA to draw up feasibility studies for individual sectors with expert input, and to release them in local languages so that aspiring founders can start firms. The prime minister argued that SMEs could play a larger role in the economy, especially by generating opportunities in underdeveloped regions, which he said could slow migration toward large cities. Officials said the body is being remodelled into a hub offering training, help with funding and support for founders.

Under the planned framework, SMEDA would train people who want to start small businesses and put them in touch with banks for loans, while new offices are being opened nationwide. An artificial intelligence helpline and an upgraded SME Digital Portal are also in development. A memorandum of understanding with Alibaba aims to train 10,000 SMEs over two years.