The federal government has increased the loan ceiling under the Prime Minister’s Youth Programme for small businesses from Rs500,000 to Rs1.5 million. This initiative is part of the government’s efforts to foster innovation, promote entrepreneurship, and support the development of small and medium-sized enterprises (SMEs) across the country.
Prime Minister Shahbaz Sharif chaired a high-level meeting focused on SME development and reviewed the progress made in providing support to small businesses. He emphasized the need to align government initiatives with international standards and adopt successful models from developed countries to enhance support for SMEs.
The premier directed officials to streamline processes for entrepreneurs and expedite the completion of a comprehensive survey to identify the challenges and requirements of SMEs. The survey will inform policies aimed at improving support for small businesses.
A special focus was placed on empowering women entrepreneurs through tailored packages that provide financial assistance and resources to help them grow their businesses. This initiative aims to address gender disparities in entrepreneurship and create a more inclusive business environment.
Prime Minister Sharif highlighted the critical role of SMEs in boosting exports and generating employment opportunities. He noted that supporting youth and women entrepreneurs would not only secure livelihoods but also contribute to creating additional jobs, strengthening the economy, and promoting sustainable development.
This move reflects the government’s commitment to fostering a business-friendly environment, driving economic growth, and enabling young entrepreneurs to achieve their potential.
