PM directs to enhance loan amount from Rs 5 lac to Rs 15 lacs under Youth program
ISLAMABAD: Prime Minister Shehbaz Sharif has directed to increase loan amount from Rs 5 lac to Rs 15 lac under the Prime Minister’s Youth Program.
He was presiding over review meeting of Small and Medium Enterprises (SMEs) in Islamabad.
He directed to immediately carry out a comprehensive survey of Small and Medium Enterprises (SMEs) for provision of facilities to them.
A special package for women entrepreneurs in small businesses be designed and presented, he held.
Shehbaz Sharif stated models from developed countries be adopted to harmonize the facilities provided to SMEs with international standards.PM’s Youth Programme Chair Meets UNFPA to Boost Youth Empowerment
The Prime Minister reiterated commitment to facilitating small and medium enterprises in order to encourage workforce to engage in business activities.
The Prime Minister noted that SMEs play a key role in the economic development worldwide. He said it is the government’s top priority to promote SMEs in order to increase the country’s exports.
Shehbaz Sharif further highlighted that the government is working to empower youth and women entrepreneurs in such a way that they not only create self-employment opportunities but also generate additional job opportunities.
The meeting was informed that in compliance of the directions of the Prime Minister, the loan application process for SMEs has been simplified after taking all stake holders into confidence so that maximum number of enterprises could benefit from the loan facility for betterment of their businesses.
Under the directives of PM a new category will be introduced in SMEs to facilitate domestic women in small scale business.
It was informed that SMEDA will launch a financial literacy and training program for SMEs by February this year. Additionally, a program to introduce SMEs to modern technology will also be finalized and launched by mid-year.
The meeting was attended by federal ministers Rana Tanvir Hussain, Ahad Khan Cheema, state minister Shizza Fatima Khawaja, governor state bank Jamil Ahmad, all the four provincial chief secretaries, representatives of SMEs and respective senior officers.
