Lahore: A consultative meeting chaired by Mr. Haroon Akhtar Khan, Special Assistant to Prime Minister on Industries and Production, focused on facilitating access to finance for micro, small, and medium enterprises (MSMEs) in Pakistan. The session, organized by the Small and Medium Enterprises Development Authority (SMEDA), had participation from over 70 SME-based chambers and industry associations nationwide.

According to Small and Medium Enterprise Development Authority, the meeting also included key officials such as Federal Secretary for Industries and Production Mr. Saif Anjum and SMEDA CEO Ms. Nadia Jahangir Seth. Mr. Khan emphasized the government's commitment to simplifying the bank financing process for SMEs, stating that a working group from the State Bank of Pakistan has been formed to address this issue.

Mr. Khan also revealed ongoing efforts to identify barriers to financing and the Prime Minister's directive to gather data on rejected loan applications from banks. He called on trade bodies to provide details of declined SME loan applications to facilitate this process. The initiative aims to make financing more transparent and efficient, with collaborative efforts from the State Bank of Pakistan, Ministry of Industries and Production, and SMEDA.

SMEDA CEO Ms. Nadia Jahangir Seth highlighted the establishment of an SME Registration Portal, designed to offer free registration and access to government support programs. Representatives from various chambers and associations presented recommendations to address financing challenges during the meeting, which will be reviewed by the government.

Concluding the session, Ms. Seth assured that all feedback would be forwarded to the Prime Minister for consideration, reinforcing the government's commitment to improving financial access for SMEs.