SMEDA partners with ICMA, DigiKhata

SMEDA has formalised two collaborations in Lahore to help micro, small and medium-sized businesses build stronger financial records and qualify more readily for institutional loans. Business Recorder reported that the authority signed an MoU with ICMA Pakistan and a Letter of Intent with DigiKhata on Thursday.

The ICMA Pakistan arrangement centres on training and advice in accounting, money management and financial literacy, while the DigiKhata initiative will encourage firms to use digital tools instead of paper-based bookkeeping. The government aims to lift SME financing to Rs2.2 trillion and the number of SME borrowers to 775,000 by June 2028. DigiKhata CEO Adnan Aslam said its platform had one million active users and provides lending, export assistance and account-opening options through the SBP Open Banking Framework. SMEDA said the joint work is intended to make businesses more formal and improve their access to finance.