Call to empower SMEs to boost exports

LAHORE : Convener of the FPCCI’s Regional Committee on Food, Shahid Imran, has said that strengthening small and medium enterprises (SMEs) could significantly boost Pakistan’s exports beyond 30pc, driving sustainable economic growth.

Speaking to a delegation, led by Mian Aftab Zia on Sunday, he highlighted the vital role of SMEs in economic resilience, job creation, and industrial diversification.

Citing successful SME-driven models in Bangladesh and Vietnam, he urged the government to prioritise targeted financial support to unlock the sector’s potential.

He called for specialised credit schemes with subsidised interest rates, expanded microfinance access, and incentives for private banks to increase SME lending.

Leveraging fintech for digital lending platforms, he added, could ensure easier credit access, particularly for informal businesses.

Shahid Imran stressed the need for regulatory reforms, including simplified taxation and streamlined business registration, to encourage SME growth.

Despite contributing 40pc to GDP and employing nearly 80pc of the non-agricultural workforce, Pakistan’s 5.34 million SMEs receive less than 7pc of total bank lending due to stringent collateral requirements and high interest rates.‘Addressing these financial barriers through strategic reforms and increased support is crucial for Pakistan’s long-term economic stability,’ he concluded.