PM sets Rs2.2tr SME financing target by 2028

Prime Minister Shehbaz Sharif has asked officials to lift financing for small and medium enterprises from Rs1.1 trillion to Rs2.2 trillion by 2028, Dawn reported. The directive came at a meeting on the Small and Medium Enterprises Development Authority, where he argued that smaller firms can fuel economic growth and open new business opportunities nationwide.

He also wants Smeda to widen access to business loans and to produce feasibility studies for various sectors in regional languages, so that prospective founders anywhere can use them. Officials told the meeting that Smeda is being reshaped into a central training hub, with new offices across the country, an AI-powered helpline and an online portal under revision. A signed memorandum with Alibaba is set to provide training for 10,000 SMEs over two years.

At a separate meeting, the prime minister ordered a third-party audit of Daanish IT Park Islamabad and asked for it to become a world-class technology hub. He also instructed the IT ministry to produce a detailed case study, and wants the park run in partnership with global technology firms. Participants were told that 50 private buildings have already been converted into software technology parks, while eight incubation centres and 105 co-working spaces are running.