In line with the country's rapidly growing startup scene, the Pakistani government has reaffirmed its dedication to empowering Small and Medium Enterprises (SMEs) through technology, innovation, and skill development.
The decision is aimed at enhancing productivity, competitiveness, and inclusive economic growth.
During a recent meeting with SME representatives from Khyber Pakhtunkhwa (KPK), Special Assistant to the Prime Minister (SAPM) Haroon Akhtar Khan highlighted the government's strategy to align SMEs with modern technology, subsequently boosting their efficiency and export potential.
Small businesses are crucial for economic growth, job creation, and export promotion, He reiterated, adding that the government is particularly focused on supporting women entrepreneurs.
He further maintained that sustainable economic growth is unattainable without an empowered SME sector. To facilitate this, the government is enhancing banking partnerships and international collaborations to introduce global best practices.
The SAPM also announced that Islamic banking facilities and financial support will further accelerate SME growth, and that the Small and Medium Enterprises Development Authority (SMEDA) will continue to provide technical assistance and technology upgrades to help local enterprises compete internationally.
It also emerged during the meeting that a Memorandum of Understanding (MoU) with Mobilink has enabled online bank registration for SMEs.