Special Assistant to the Prime Minister (SAPM) on Industries and Production Mr Haroon Akhtar Khan says that under the Prime Minister’s vision, microenterprises are being provided access to government financial schemes and development services.

He stated this while addressing the signing ceremony of a Memorandum of Understanding (MoU) between the Small and Medium Enterprises Development Authority (SMEDA) and Mobilink Microfinance Bank Limited (MMBL), held at SMEDA Headquarters on Oct 18.

The MoU was signed by SMEDA’s Chief Executive Officer Mr Socrat Aman Rana and MMBL President & CEO Mr Harris Mahmood Chaudhry. Federal Secretary for Industries and Production Mr Saif Anjum was also present.

SAPM Haroon Akhtar Khan said that under the dynamic leadership of Prime Minister Shehbaz Sharif, Pakistan is progressing towards building a strong, inclusive and growth-oriented SME sector. He added that the government aims to create a business environment where every micro, small and medium enterprise has equal opportunities to grow, compete and contribute meaningfully to Pakistan’s economic future.

He expressed concern that despite their tremendous potential, MSMEs continue to face persistent challenges - the most significant being limited financial literacy and inadequate access to finance. He emphasized that the MoU marks a major step towards addressing these barriers.

Under this collaboration, both institutions will work together to extend loans and business development services to small enterprises operating even in Pakistan’s villages and towns, he said.

Mr Khan added that the present government is also striving to formalize micro, small and medium businesses operating in the informal sector so that they can benefit from government support schemes. He congratulated the leadership of SMEDA and MMBL for joining hands to support microenterprises in Pakistan.

Federal Secretary for Industries and Production Mr Saif Anjum said that under the leadership of Prime Minister Shehbaz Sharif and the guidance of SAPM Haroon Akhtar Khan, Pakistan is moving forward with renewed commitment to strengthen its SME sector.

He expressed confidence that the partnership between SMEDA and MMBL would play a vital role in developing MSMEs through financial literacy and capacity-building programs. He noted that through this MoU, the combined services of Mobilink Microfinance Bank and SMEDA will reach hundreds of thousands of small businesses across the country.

Earlier, SMEDA’s CEO Mr Socrat Aman Rana, while highlighting the significance of the MoU, informed that the total microfinance portfolio in Pakistan exceeds Rs650 billion, of which microfinance banks hold a 71.3% share. However, women borrowers account for only 34.8% of total lending, reflecting the need for greater credit inclusion in this sector.

He added that under the guidance of SAPM Haroon Akhtar Khan and Federal Secretary Saif Anjum, SMEDA has previously signed MoUs with the Pakistan Microfinance Network and Akhuwat to promote microfinancing and the collaboration with MMBL is a continuation of that effort. He expressed hope that this partnership between SMEDA and MMBL would further empower small businesses in Pakistan.

MMBL President & CEO Mr Harris Mahmood Chaudhry said that empowering MSMEs is vital for Pakistan’s socioeconomic development and microfinance has a key role to play in that process. Through this partnership with SMEDA, he added, MMBL will be better positioned to fulfill that role effectively.

He said the collaboration will not only promote microfinancing but also combine digital finance, training and business development services to create an enabling environment in which MSMEs can emerge as a strong pillar of Pakistan’s sustainable economic growth.

The 32nd meeting of the Board of the Small and Medium Enterprises Development Authority (SMEDA) held under the chairmanship of Mr Haroon Akhtar Khan, Special Assistant to the Prime Minister (SAPM) on Industries and Production, reviewed proposed amendments to the SMEDA Ordinance 2002, appointment process of the new Chief Executive Officer and the Authority’s SME Formalization initiative.

The meeting was attended by Mr Saif Anjum, Secretary, Ministry of Industries and Production; Mr Socrat Aman Rana, CEO SMEDA, Mr Masood Akhtar, Chief (Law & Clarification), FBR; Ms Iffat Malik, Joint Secretary (Expenditure), Ministry of Finance; and Mr Muhammad Ashraf, Executive Director General, Ministry of Commerce. Private sector members Ms Aasia Saail Khan, Dr Syed Zahoor Hassan, Mr Mashood Khan and Mr Osman Saifullah Khan also participated.

While addressing the Board, Mr Haroon Akhtar Khan reiterated the Prime Minister’s strong commitment to the rapid development of the SME sector, emphasizing SMEDA’s pivotal role in driving sustainable industrial growth and employment generation. He advised SMEDA to launch a nationwide awareness campaign highlighting the government’s incentives for registered SMEs and urged acceleration of efforts to bring more enterprises into the formal sector through SMEDA’s SME Registration Portal.

The SAPM further underscored the importance of long-term financing for SMEs, informing that it has been made a key component of the forthcoming Industrial Policy. He added that a high-level committee headed by the Federal Minister for Finance has been constituted to promote long-term industrial financing mechanisms.

Mr Socrat Aman Rana, CEO SMEDA, apprised the Board that 13 amendments have been proposed in the SMEDA Ordinance 2002 to streamline inter-ministerial coordination for ensuring swift approvals of SME development incentives required from other divisions. He also briefed the Board on SMEDA’s fruitful participation in the launch of the OIC SME Network (OIC-SMENET) held in Baku, Azerbaijan, and Pakistan’s debut participation at BIOPROM-2025, Russia’s leading biotechnology and pharmaceutical trade fair.

The CEO SMEDA extended his gratitude to the SAPM and Secretary, Ministry of Industries and Production, for their continued guidance and support in enabling SMEDA to strengthen Pakistan’s SME ecosystem and expand international linkages for local enterprises.

Small and Medium Enterprises (SMEs) across the Member States of the Organisation of Islamic Cooperation (OIC) have pledged to intensify collective efforts to promote entrepreneurship, industrialization and inclusive economic development.

The commitment was made at the inaugural meeting of the OIC Small and Medium Enterprises Network (OIC-SMENET), where participants unanimously adopted the historic Baku Declaration.

Mr Socrat Aman Rana, Chief Executive Officer of the Small and Medium Enterprises Development Authority, represented Pakistan in the meeting on behalf of the Ministry of Industries and Production.  

The event was organized under the coordination of the Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC) and on the sidelines of the Azerbaijan Halal Business (AZHAB) Forum.  

Speaking on the occasion, the CEO SMEDA said the Baku Declaration recognizes the vital role of SMEs as engines of economic growth, employment generation, innovation and diversification, especially in addressing the pressing global challenges of digital transformation, climate change and post-pandemic recovery.

He observed that the OIC-SMENET will evolve into a dynamic and institutionalized platform that connects and empowers SMEs across the OIC region.

He emphasized that the 57 OIC member states represent a population of more than 2.1 billion people and host over 100 million SMEs. Despite this immense potential, he said, intra-OIC trade currently stands at around USD 925 billion - USD 452 billion in exports and USD 473 billion in imports - much of which remains concentrated in hydrocarbons.

He noted that to achieve sustainable growth, SMEs across the OIC region must move up the value chain, diversify their products and services, and transition toward higher value-added sectors. The OIC-SMENET, he said, provides a critical foundation for deeper SME interaction, connectivity and cooperation among member countries.

He stressed that in today’s interconnected global economy, no single country could unleash the full potential of its SME sector in isolation and collective action is essential. The OIC-SMENET, he explained, will enable business-to-business linkages, enhance intra-OIC trade, integrate regional and global value chains, and advance digital and green transformation agendas.

Mr Rana also highlighted SMEDA’s pivotal role as the apex institution mandated to facilitate SME development in Pakistan. “From policy formulation and the establishment of common facility centres to direct enterprise support and capacity building, SMEDA continues to catalyze SME growth and internationalization,” he said.

Reaffirming Pakistan’s commitment to the OIC-SMENET Work Plan, he said SMEDA will establish a dedicated team for strategy and technical assistance, provide research and policy inputs to strengthen evidence-based decision-making, organize consultative sessions to refine the network’s operational model and leverage international partnerships to encourage wider participation and engagement.

The Small and Medium Enterprises Development Authority (SMEDA) will facilitate hunting and sporting swords and accessories manufacturers in enhancing the export of the sector from the current USD 13.5 million to USD 100 million.

The assurance was held out by Mr Socrat Aman Rana, Chief Executive Officer of SMEDA, while addressing a delegation of the Hunting and Sporting Knives, Swords and Accessories Association of Pakistan at a meeting held at SMEDA’s Head Office in Lahore on Sept 15.  

The delegation was led by Mr Nadeem Ahmed Warraich, chairman of the association. SMEDA’s senior officials were also in attendance.  

The CEO of SMEDA emphasized that promoting exports and generating employment through SME development remain the foremost priorities of the government under the leadership of Prime Minister Shehbaz Sharif.

He assured the delegation that SMEDA is actively working to address the challenges facing the sector and will collaborate with the Association on initiatives such as sector profiling, production process improvement, preparation of a cluster documentary and specialized e-commerce training programs.

Highlighting SMEDA’s ongoing efforts, the CEO noted that a range of export facilitation programs are already in place to strengthen SMEs across various sectors, and similar measures will be extended to the hunting and sporting knives industry.

Earlier, Mr Nadeem Ahmed Warraich, in a presentation, informed the participants that Pakistan’s share in the global trade of hunting and sporting knives was 0.53 percent in 2022, which decreased to 0.41pc in 2024. He said the share could be enhanced manifold with the support of the government.

He said the government support could raise the exports of hunting and sporting knives from USD 13.5 million to USD 100 million.