Islamabad (GNP): The Small and Medium Enterprises Development Authority (SMEDA) and the Prime Minister’s Youth Programme (PMYP) signed a Memorandum of Understanding (MoU) to establish a structured framework of collaboration aimed at enhancing outreach, awareness and access to financial and business development support for Micro, Small and Medium Enterprises (MSMEs) and aspiring young entrepreneurs across Pakistan.
Advisor to the Prime Minister on Industries and Production(Federal Minister), Haroon Akhtar Khan, and Chairman Prime Minister’s Youth Programme, Rana Mashood Khan, witnessed the MoU signing ceremony.
In the ceremony, CEO SMEDA Nadia J Seth, Joint Secretary for industries and Production Mr Freedoon Akram Sheik, Prime Minister Youth Program Team and other representatives from different sector were present.
The partnership will leverage the respective resources, expertise, outreach networks and digital capabilities of SMEDA and PMYP to facilitate inclusive access to the Prime Minister’s Youth Business & Agriculture Loan Scheme (PMYB&ALS). The collaboration will focus on start-ups, existing MSMEs, individual entrepreneurs, firms and companies, with particular emphasis on underserved regions and marginalized groups, including women entrepreneurs.
Speaking on the occasion, Advisor to the Prime Minister Haroon Akhtar Khan said that the initiative was aligned with the Prime Minister’s direction, leadership and vision to create greater economic opportunities for Pakistan’s youth and strengthen the country’s SME sector.
“Under the Prime Minister’s leadership and vision, we are working to ensure that young people and entrepreneurs have better access to financial opportunities, business development support and the knowledge required to establish and grow sustainable enterprises,” he said.
Haroon Akhtar Khan said that the collaboration between SMEDA and the Prime Minister’s Youth Programme would help bridge the gap between financing opportunities and potential beneficiaries by improving awareness, financial literacy and access to business development resources.
He said the government was particularly focused on reaching entrepreneurs in underserved regions and ensuring that women entrepreneurs also benefited from available financial and business support.
Under the MoU, SMEDA will conduct awareness campaigns and training programmes regarding the PMYB&ALS, including eligibility criteria, documentation requirements and application procedures. It will also facilitate financial literacy initiatives and promote awareness of formal financing options in collaboration with partner banks and relevant stakeholders.
SMEDA will undertake targeted outreach in underserved regions and among marginalized groups, including women entrepreneurs, to promote equitable access to financial services. It will also facilitate access to business development resources, including pre-feasibility studies, financial web-based tools, business plan templates, training modules and other relevant guidance to help applicants prepare viable financing proposals.
The Scheme will also be promoted through SMEDA’s provincial and regional offices, including its Help Desks.
Under the collaboration, PMYP will disseminate Scheme-specific information and SMEDA-developed support materials, including FAQs, video tutorials, business plan templates and how-to guides, through its social media platforms and Digital Youth Hub (DYH).
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PMYP will also feature SMEDA’s key business development resources on the Digital Youth Hub, including pre-feasibility studies, financial tools, the SME financing products database, trai…
Sohail Majeed is a Special Correspondent at The Diplomatic Insight. He has twelve plus years of experience in journalism & reporting. He covers International Affairs, Diplomacy, UN, Sports, Climate Change, Economy, Technology, and Health.
