LAHORE: Special Assistant to Prime Minister on Industries and Production (SAPM) Haroon Akhtar Khan has said that under the Prime Minister’s vision, for the first time in Pakistan, access to government financial schemes and development services has been made possible for micro-enterprises.
He said this while addressing a signing ceremony of a Memorandum of Understanding (MoU) between SMEDA and Mobilink Microfinance Bank Limited (MMBL) here at the head office of Small and Medium Enterprises Development Authority (SMEDA) Saturday. The MoU was signed by SMEDA CEO Socrat Aman Rana and MMBL President and CEO Haaris Mahmood Chaudhry. Federal Secretary Industries and Production Saif Anjum was also present on the occasion.
SAPM Haroon Akhtar Khan said that under the dynamic leadership of Prime Minister Shehbaz Sharif, Pakistan is moving towards building a strong, inclusive and growth-oriented SME sector. He said that the government wanted to create a business environment where every micro, small and medium enterprise had equal opportunities to grow, compete and make a meaningful contribution to Pakistan’s economic future. But unfortunately, despite their immense potential, MSMEs continue to face obstacles. The biggest obstacle among them is financial literacy and reasonable access to finance.
He said that today’s MoU is an important step towards removing this obstacle. Under which both the institutions will jointly provide loans and business development services to small businesses operating in the villages and towns of Pakistan.
He said that the prime minister wants women to be active in the MSME sector in Pakistan, for which a separate policy has been formulated on the instructions of the prime minister for the promotion of women entrepreneurship. Haroon Akhtar Khan said that along with this, the current government is trying to make such micro, small and medium businesses in Pakistan that are in the informal sector a part of the formal sector so that they can benefit from the facilitation schemes provided by the government. He congratulated the heads of SMEDA and MMBL for their collaboration.
Addressing the signing ceremony, Secretary MOIP Saif Anjum said, “Under the visionary leadership of Prime Minister Shehbaz Sharif and the guidance of SAPM Haroon Akhtar Khan, Pakistan is moving with renewed determination to strengthen its SME sector”. He hoped that under this partnership, SMEDA will play a pivotal role in advancing MSMEs growth by organizing dynamic financial literacy and business capacity-building programs, while leveraging its offices to promote awareness about financing opportunities and MMBL’s innovative products. Through this MOU, Mobilink Microfinance Bank will work closely with SMEDA to connect MSMEs with growth opportunities by sharing its lending priorities, referring clients for training, and supporting advisory initiatives.
Earlier, CEO SMEDA Socrat Aman Rana welcomed the guests and highlighted objectives of the SMEDA-MMBL MoU. He informed, the total outstanding microfinance portfolio stands at Rs. 650+ billion, with Microfinance Banks contributing 71.3%, and female borrowers accounting for 34.8% of total lending—reflecting both the sector’s scale and the challenges in achieving meaningful, inclusive growth. Therefore, in line with the vision of Prime Minister Shehbaz Sharif, under the guidance of SAPM Haroon Akhtar Khan and Secretary MOIP Saif Anjum, SMEDA has earlier signed MoUs with Pakistan Microfinance Network and Akhuwat to enhance micro financing, he said and hoped that the today’s partnership between SMEDA and MMBL will further empower Pakistan’s micro and small enterprises. Together, we will enhance bankability, financial literacy, and access to finance, while promoting data-driven collaboration to shape more effective policies for the future, he added.
On this occasion, Haaris Mahmood Chaudhary, President & CEO, Mobilink Bank, said: “Empowering SMEs is vital to Pakistan’s socio-economic growth, and microfinance has a pivotal role to play in enabling that empowerment. Through this partnership with SMEDA, we’re combining training, digital finance, and access to credit to build a stronger ecosystem that enables small businesses and drives sustainable economic progress, he said.