Smeda, akhuwat join hands

Lahore:

According to the prime minister’s vision for economic development through entrepreneurship, the SMEDA Development Authority (SMEDA) has signed a memorandum of agreement (MOU) with Islamic microfinance Akhuwat to improve access, formal and manual reduction of micro -businesses.

According to an official statement published on Saturday, the Mou was signed by Singa Socrat Aman Rana’s chief executive and the founder and president of the Akhuwat Dr Amjad Saqib Foundation, in the presence of a federal secretary for industries and the production of SAIF Anjum at the Central Office.

Addressing the ceremony, Secretary Moip Saif Anjum emphasized that small, small and medium -sized enterprises (MSMES), as a spine in the Pakistan economy, play a critical role in driving resilience, employment and innovation. He stressed that small businesses are a top priority on the prime minister’s financial agenda. He noted that a Managing Committee, led by himself, was set up to meet the challenges facing the MSME sector. In the context of its efforts, the Commission also launched the reorganization of SMEDA to enhance its effectiveness in serving the media sector.

“Today’s memorandum of memory between Smeda and Aim reflects the commitment of Prime Minister Shehbaz Sharif and Sapm Haroon Akhtar Khan to strengthen the Msmes,” he said. He expressed the hope that cooperation would enhance micro-painting and building capacity, helping to create a strong ecosystem to bridge the economic gaps and promote the inclusion of micro-episitions in the official economic landscape. He returned Smeda’s contributions to training, consulting and defense and praised AIM’s efforts to promote financial integration.

Earlier, Singa Socrat Aman Rana’s chief executive welcomed visitors and described Mou’s goals. “This collaboration with Akhuwat is a specific step towards realizing the dream of the prime minister of a strong and fair business ecosystem,” he said. He emphasized SMEDA’s focus on enhancing micro -businesses through targeted capacity creation and rationalized regulatory processes.

He recognized SAPM’s role in facilitating cooperation, citing his continued support for the mission and defending SMEDA for the development of MSME.

Elements in the sharing sector, the SMEDA chief, noted that microfinance now serves nearly 12 million active borrowers, backed by a gross loan portfolio of approximately 644 billion Rs, reflecting a strong 13% increase on a year. Specifically, 46% of borrowers are women, underlining the impact of the sector and gender -sensitive.

He added that the main areas of microfinance. Trade and services (RS144 billions), animals and poultry (RS164 billion) and Georgia (RS138 billion) reflect the core of Pakistan’s MSME ecosystem, especially in rural and semi-urban areas. However, he warned that access to official funding remains a major obstacle to MSME, especially in areas not covered. It was named in Mou an important discovery to bridge this funding gap and unlock Pakistan’s business.

Speaking at the event, AIM President Dr Amjad Saqib expressed his conviction that co -operation would enhance the access of small businesses to funding through AIM’s national network. He recognized the vital role of micro -businesses in reducing poverty and employment production and hopes that the partnership will contribute substantially to national economic growth.