Prime Minister Shehbaz Sharif has directed for taking measures for the capacity building of Small and Medium Enterprises to make them more profitable.

He was chairing the first meeting of the Steering Committee of the Small and Medium Enterprises Development Authority in Islamabad today.

Declaring the SME sector as an engine of national development, the Prime Minister said expanding exports of Small and Medium Enterprises is imperative for the country’s economy. He also instructed that the SMEDA Board be made functional immediately.

The Prime Minister said that large private business entities have a responsibility to support small and medium enterprises. He noted that half of the country’s population consists of women, and their role in the national economy is extremely important. He directed that women entrepreneurs be specially included in all decisions related to Small and Medium Enterprises in the country.

The Prime Minister emphasized that all products prepared for export should meet international standards.

The meeting was briefed about the strategy for the development of Small and Medium Enterprises in the country. It was stated that experts with international reputation will be hired for the development of SMEs.

The briefing mentioned that the introduction of technology to produce textile products from recycled materials will help combat climate change. The government will assist in providing loans on easy installments for starting new businesses.

It was also stated that under SMEDA, all policies for the development of Small and Medium Enterprises will be formulated, based on the latest data.