Prime Minister Shehbaz Sharif has said the government is working on a priority basis to promote small and medium-sized businesses.

He was chairing a steering committee meeting of the Small and Medium Enterprises Development Authority (SMEDA) in Islamabad today.

The Prime Minister directed SMEDA to recruit skilled personnel from the market and ensure transparency in hiring an international-standard workforce with salaries competitive with market rates. He highlighted the importance of professional training for labour in the SME sector. He acknowledged SMEDA's significant role in boosting the rural economy and directed the formulation of a plan to extend SMEDA's interest-free loan program to all rural populations, including women.

The Prime Minister also instructed the merger of all vocational training institutions at the federal level into a single entity.

It was told that under the Prime Minister's directive, micro-enterprises have been integrated into the SME sector and a comprehensive policy is being formulated in this regard. It was informed that private sector representation on the SMEDA board is being increased.

The meeting was further briefed that strategies are being developed to equip SMEDA's workforce with skills training and modern technology.

It was said that the Ministry of Commerce and SMEDA are collaborating to identify relevant companies for exports. A robust performance management framework will be established within SMEDA.

The briefing 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 recruitment of experts for this initiative has been completed. An export assistance program is also being introduced to boost SME exports. Legal framework for subcontracting in the SME sector is being prepared and recruitment of experts for this process will be starting soon.