Islamabad: Prime Minister Shehbaz Sharif has announced that facilitating access to credit for the private sector, particularly small and medium enterprises (SMEs) and small farmers, for the acquisition of modern technology is among the government’s top priorities. He made this statement while chairing a high-level meeting on loans to SMEs and the agricultural sector in Islamabad.

According to Radio Pakistan, the Prime Minister urged the State Bank to implement measures that would simplify the procedures through which commercial banks provide loans to SMEs and the agricultural sector. He stressed that credit should be allocated on a priority basis to service providers to foster innovation within the agricultural sector.

In addition, Prime Minister Shehbaz instructed Special Assistant Haroon Akhtar and the Small and Medium Enterprises Development Authority (SMEDA) team to visit all provinces, including Gilgit-Baltistan and Azad Jammu and Kashmir (AJK), to formulate a comprehensive policy aimed at facilitating small and medium-sized businesses.

Furthermore, the Prime Minister highlighted the importance of providing entrepreneurship training to the youth to enable them to launch new businesses, thereby increasing economic activity in the country.