Prime Minister Shehbaz Sharif chaired a high-level meeting to review credit provision for small and medium-sized businesses and small farmers, reaffirming the government’s focus on private sector-led growth.
The meeting reviewed facilitation measures, economic inclusion, and the overall provision of credit to the private sector. Special emphasis was placed on improving access to financing for new small and medium-scale businesses and small farmers.
Prime Minister Sharif stressed that expanding credit access is essential for sustainable economic development.
SBP steps to ease loan procedures
During the meeting, the premier noted that the State Bank of Pakistan has taken concrete steps to simplify loan provision procedures. These measures aim to reduce bureaucratic hurdles and encourage wider participation in formal financing.
He directed authorities to ensure that these reforms translate into tangible relief for borrowers.
The PM instructed that credit should be provided on a preferential basis to service providers promoting innovation in agriculture. He emphasized that modern agricultural practices and technology adoption are critical for improving productivity and farmer incomes.
Small farmers were highlighted as a key focus of future credit expansion.
Nationwide consultations for SME policy
Prime Minister Sharif announced that his Special Assistant Haroon Akhtar, along with a dedicated team, will visit all provinces, including Gilgit-Baltistan and Azad Kashmir.
The visits aim to coordinate with provincial governments and develop a comprehensive, unified policy to facilitate small- and medium-scale businesses across the country.
The prime minister said small and medium enterprises are the backbone of the economy and form the foundation of industries in developed countries. He stressed that Pakistan must strengthen its SME sector to generate employment and accelerate industrial growth.
Facilitation of credit provision to SMEs was described as a top government priority.
Focus on youth entrepreneurship
The meeting also highlighted the need to provide entrepreneurship training to young people so they can start their own businesses. The prime minister said equipping youth with skills and access to finance would help unlock Pakistan’s economic potential.
He reiterated that empowering SMEs and entrepreneurs is central to the government’s long-term economic strategy.
