Prime Minister Muhammad Shehbaz Sharif on Thursday directed to increase the youth loan amount from Rs0.5 million to Rs1.5 million under the PM’s Youth Programme for Small and Medium Enterprises (SMEs) and prepare a special package for women entrepreneurs in small scale business.
The PM chaired a review meeting on the issues of SMEs and reviewed the progress on the government’s initiatives for the development and facilitation of SMEs, a Prime Minister’s Office news release said.
PM Shehbaz Sharif underscored that the government was determined to facilitate SMEs to encourage the country’s workforce for opting entrepreneurship. “Globally, SMEs play a key role in the development of the economy.The first priority of the government is to promote SMEs so that domestic exports increase. The government is trying to empower youth and women entrepreneurs so much that they not only earn self-employment but also create more employment opportunities,” the Prime Minister said.
He issued directives to complete a detailed survey of SMEs across the country for providing improved facilities. “In order to harmonize the facilities given to SMEs with international standards, it should be ensured that the models of developed countries are applied,” he added.
During the meeting, it was informed that following the instructions of the Prime Minister, after taking all the stakeholders into confidence, the loan form for SMEs was made easier and simpler so that maximum SMEs could improve their business and benefit from the loan facility.
The forum was informed that the classification of SMEs was being done in such a way that all small and medium scale businesses could benefit from the government’s support and facilities and ensure that they were provided with loans on timely and easy terms.
It was also added that on the instructions of the Prime Minister, a new category would be introduced to facilitate the SMEs and housewives in SMEs, in which they would be given easy access to loans and government support for business improvement.
The meeting was briefed on the stats of SMEs in three major cities by the Pakistan Bureau Statistics and it was told that in the next few months, a survey would be conducted to plan the provision of better facilities to the SMEs in the entire country.
Caza Ceasefire
Prime Minister Muhammad Shehbaz Sharif on Thursday welcomed the announcement of the long-awaited ceasefire in Palestine and appreciated the arduous efforts for mediation rendered by Qatar, Saudi Arabia, USA, Egypt and other international partners.
In a message on his official X timeline, the prime minister termed the ceasefire as a vital agreement.
“It is imperative that provision of urgently needed humanitarian assistance is immediately restored to Gaza and other war-torn areas,” the Prime Minister said.
PM Shehbaz Sharif hoped that the ceasefire agreement would be honored in its true letter and spirit.
FBR’s legal cases
Prime Minister Muhammad Shehbaz Sharif on Thursday directed the relevant authorities to expedite the Federal Board of Revenues’ (FBR) legal steps being taken to ensure early conclusion of the under trial cases of tax revenues.
Chairing a review meeting on expediting FBR’s legal cases, the prime minister instructed to hire services of the reputed lawyers to represent FBR in the cases of tax revenues.
He said the government was speedily implementing reforms in FBR system.
“By the grace of Allah Almighty, the positive results of reforms in FBR continue,” he said. He also directed the forensic audit of cases related to tax matters.
PM Shehbaz committed that the officers who were found to be involved in making cases on weak or false grounds will be given punishment.
On the other hand, he said the officers who had constituted cases on merit with honesty and hard work will be rewarded with special incentives.
The meeting was told that, after the prime minister’s instructions, reputable lawyers were brought onto the panel, and as a result, from July to December 2024, 586 cases were resolved in the High Court, and 637 pending cases were resolved in the Supreme Court.
The meeting was also informed that currently, 33,522 cases involving Rs 4.7 trillion were pending in various courts and tribunals across the country.
Menzies Aviation
Prime Minister Muhammad Shehbaz Sharif on Thursday welcomed the launch of international logistics company Menzies Aviation in Pakistan hoping that it would help promote new technology, attract international investors and generate youth employment in the country.
The Prime Minister made these remarks in a call on paid by a 6-member delegation led by Philip Joeinig, Chief Executive Officer of Menzies Aviation here, a Prime Minister’s Office news release said.
The Prime Minister unveiled the plaque while inaugurating the establishment of the first office of Menzies Aviation in Pakistan.
PM Shehbaz Sharif welcomed the establishment of IT infrastructure and facilitation desk by the company in Pakistan.
