ISLAMABAD: Prime Minister Shehbaz Sharif has instructed that steps be taken to enhance the capacity of Small and Medium Enterprises (SMEs) to boost their profitability.

He presided over the inaugural meeting of the Steering Committee of the Small and Medium Enterprises Development Authority (SMEDA) in Islamabad.

Recognizing the SME sector as a key driver of national growth, the Prime Minister emphasized that increasing the exports of SMEs is crucial for the nation’s economy. He also ordered that the SMEDA Board be made operational without delay.PML-N Govt striving to resolve economic difficulties of masses: Maryam

The Prime Minister highlighted that large private sector businesses have a duty to support small and medium-sized enterprises. He pointed out that women make up half of the country’s population, and their contribution to the economy is vital. He directed that women entrepreneurs be prominently involved in all decisions concerning SMEs in the country.

The Prime Minister stressed that all export-ready products must adhere to international standards.

The meeting was briefed on the strategy for advancing the development of SMEs in the country. It was noted that internationally renowned experts would be engaged for the advancement of SMEs.

The briefing included information that utilizing technology to create textile products from recycled materials would aid in addressing climate change. The government will provide assistance through loans with favorable terms for starting new businesses.

Additionally, it was mentioned that under SMEDA, all policies related to SME development would be crafted based on the most recent data.