Pakistan's PM forms steering committee to enhance SME development, increase bank credit to Rs800bn, and integrate industries into the global supply chain.

Pakistan's Prime Minister Shehbaz Sharif has formed a steering committee to improve the Small and Medium Enterprises Development Authority (Smeda). He intends to promote sub-contracting in industries, integrate Pakistani industries into the global supply chain, and increase bank credit for the sector to reach Rs800 billion. Smeda currently manages a development fund of Rs30 billion, with Rs5 billion for the fiscal year 2024-25, and accounts for 40% of Pakistan's GDP and 31% of its exports.

August 23, 2024
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