PM Calls SMEs Engine Of Inclusive Growth, Innovation & Employment Empowering Pakistan

ISLAMABAD, (UrduPoint / Pakistan Point News - 5th Aug, 2025) Prime Minister Shehbaz Sharif on Tuesday underscored the significance of SMEs as the engine of inclusive growth, innovation, and employment and termed them as enablers of national strength saying, "empowering them means empowering Pakistan.”

The prime minister chaired a high-level meeting of the Steering Committee of the Small and Medium Enterprises Development Authority (SMEDA), underlining the government’s firm commitment to promote small and medium enterprises (SMEs) as a backbone of national economic growth, a Prime Minister's Office news release said.

Speaking at the meeting, Prime Minister Shehbaz Sharif emphasized that small and medium-sized businesses play a pivotal role in the development and prosperity of the country.

“The growth of SMEs is among the top priorities of the government, and we are implementing reforms and initiatives on a fast-track basis to support this critical sector,” he said.

During the session, the committee was briefed on recent reforms within SMEDA and key initiatives aimed at strengthening the SME ecosystem. It was revealed that, on the Prime Minister’s special directive, businesses with an annual turnover of up to Rs 30 million have now been classified as micro enterprises and brought under SMEDA’s purview.

Highlighting progress on women-led businesses, officials informed the prime minister that a draft of the Women Entrepreneurship Policy has been finalized and will soon be presented to the Federal cabinet for approval. Additionally, SMEDA is preparing to launch a dedicated digital portal to support women entrepreneurs across the country.

Other major developments shared during the meeting included the outsourcing of the development of a credit scoring model for SMEs, strategic planning to enhance exports, legal framework for SME sub-contracting, and a national survey in collaboration with the Pakistan Bureau of Statistics to assess 20 key economic sectors.

Prime Minister Shehbaz Sharif concluded the meeting by directing SMEDA and relevant institutions to accelerate work on

all pending initiatives, ensure effective coordination among stakeholders, and prioritize facilitation for women and micro entrepreneurs.

The meeting was attended by key federal ministers including Economic Affairs Minister Ahsan Iqbal, Climate Change Minister Dr. Musadik Malik, IT and Telecom Minister Shaza Fatima, Advisor to the PM Dr. Tauqir Shah, Special Assistant on Industries Haroon Akhtar, MNA Nosheen Iftikhar, and chief secretaries from all provinces including Gilgit-Baltistan and Azad Jammu & Kashmir.