Pakistani PM vows pro-business reforms to empower MSMEs for sustainable growth

ISLAMABAD -- Pakistani Prime Minister Shehbaz Sharif on Friday reaffirmed his government's commitment to pro-business reforms aimed at empowering micro, small and medium-sized enterprises (MSMEs) as drivers of sustainable economic growth.

In a statement marking the International Day of MSMEs, Sharif said the government is focusing on easing access to finance, encouraging technology adoption, and strengthening market linkages for small businesses across the country.

Under the supervision of the SME Development Steering Committee, Pakistan has formulated a new three-year business plan designed to boost MSMEs' contribution to exports, foster climate-resilient industries, encourage subcontracting, and promote women entrepreneurship, the prime minister said.

To enhance institutional support, the Small and Medium Enterprises Development Authority is undergoing restructuring to improve its effectiveness in delivering services and support programs, Sharif added.

A key milestone, he noted, is the establishment of a 30 billion Pakistani rupees (about $107 million) development fund to promote innovative and sustainable MSME projects over the next five years.

"Through firm and targeted reforms, the government is determined to build a dynamic, business-friendly environment where MSMEs can thrive and play their rightful role in Pakistan's sustainable development," Sharif said.