Govt focused on boosting small, medium-sized enterprises: PM
Prime Minister Shehbaz Sharif said on Thursday that the government is prioritising small and medium-sized enterprises (SMEs) and youth employment training to drive economic growth and job creation.
Chairing a steering committee meeting of the Small and Medium Enterprises Development Authority (SMEDA), the PM directed the recruitment of skilled personnel and stressed the need for professional training in the SME sector.
He highlighted SMEDA's role in strengthening the rural economy and ordered an expansion of its interest-free loan programme to include all rural populations, particularly women.
PM Shehbaz also instructed the merger of all federal vocational training institutions into a single entity to streamline efforts.
The meeting was informed that micro-enterprises have been integrated into the SME sector, and a comprehensive policy is under development. The private sector's representation on the SMEDA board is also being increased.
The Ministry of Commerce and SMEDA are collaborating to identify export opportunities for SMEs, with a new performance management framework set to enhance efficiency.
Additionally, SMEDA has conducted 28 training programmes, benefiting 953 participants, while an export assistance programme and a financial literacy initiative are in the pipeline.
In a separate meeting on the National Youth Employment Plan, PM Shehbaz approved a strategy to align vocational training with market and industry demands.
He announced he would personally oversee the plan's monthly progress and urged authorities to liaise with local industries to ensure the training aligns with workforce needs.
'The talented youth of Pakistan are the country's most valuable asset,' he said, adding that the government is committed to empowering them through vocational training and skill development.
Officials briefed the Prime Minister that between 2.4 million and 6 million young people will receive vocational training over the next four years to enhance their employability.
A Digital Youth Hub is also set to be launched this month, aimed at connecting young job seekers with training and employment opportunities.
PM Shehbaz praised the efforts of all ministries involved and reaffirmed the government's commitment to creating employment opportunities for Pakistan's youth.
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