Islamabad: Prime Minister Shehbaz Sharif has announced that the government is working on a priority basis to promote small and medium-sized businesses. He chaired a steering committee meeting of the Small and Medium Enterprises Development Authority (SMEDA) in Islamabad today.

According to Radio Pakistan, the Prime Minister directed SMEDA to recruit skilled personnel from the market and ensure transparency in hiring an international-standard workforce with competitive salaries. He emphasized the need for professional training within the SME sector, acknowledging SMEDA's crucial role in boosting the rural economy. He instructed the development of a plan to extend SMEDA's interest-free loan program to all rural populations, including women.

The Prime Minister also called for the merger of all federal-level vocational training institutions into a single entity. The meeting revealed that, under the Prime Minister's directive, micro-enterprises have been integrated into the SME sector, with a comprehensive policy being formulated. It was also noted that the representation of the private sector on the SMEDA board is being increased.

Further briefings indicated that strategies are being developed to equip SMEDA's workforce with skills training and modern technology. The Ministry of Commerce and SMEDA are collaborating to identify relevant companies for exports. A robust performance management framework is set to be established within SMEDA.

The briefing also highlighted that SMEDA has conducted 28 seminars and training programs for the SME sector, with 953 participants. A financial literacy program for the SME sector is being launched, and the recruitment of experts for this initiative has been completed. An export assistance program is also being introduced to boost SME exports. Additionally, a legal framework for subcontracting in the SME sector is in preparation, with recruitment of experts for this process starting soon.