Govt Orders To Triple Small Business Loan Limit
- Sara Habib
- January 17, 2025
- 8:19 am
- 38
- Current Affairs
Prime Minister Shehbaz Sharif has announced a big change for small businesses. The government has increased the SME loan limit by 200%. Now, small businesses can get up to Rs. 1.5 million, instead of Rs. 500,000. This decision will help small businesses grow and create more jobs.
Helping Small Businesses Grow
The government wants to support small businesses like never before. It plans to follow global standards for SME support. A special package for women entrepreneurs is also in the works. This will encourage more women to start businesses and contribute to the economy.
Focus on Women Entrepreneurs
Women entrepreneurs will get dedicated support. The government aims to make loans and other resources easier for them to access. This step will help women take part in economic activities and start new ventures.
Simple Loan Process
The government is making the loan process easier. Key changes include:
Easier Loan Forms: Forms will be simpler to fill out.
More Businesses Included: New rules will allow more businesses to apply, especially those run by housewives.
These changes will help small businesses get loans faster and with less hassle.
Using Data for Better Policies
The Pakistan Bureau of Statistics (PBS) is collecting data to improve SME policies. A national survey will also be conducted soon. This survey will guide the government in making better decisions for SMEs.
New Programs for SMEs
The government has announced two new programs:
Financial Literacy Program: Starting in February 2025, this program will teach small business owners how to manage money and understand markets.
Technology Program: By mid-2025, SMEs will get help to use modern tools and technology. This will improve their efficiency and make them more competitive.
These programs aim to give SMEs the tools they need to succeed.
Working Together for Success
Federal ministers, provincial officials, and SME representatives are working together. Their efforts show the government’s commitment to helping small businesses thrive.
Conclusion
The government’s decision to triple the loan limit is a big boost for small businesses in Pakistan. With easier processes, support for women, and new programs, SMEs will grow stronger. These steps will create jobs and drive economic progress.
For more details, visit SMEDA’s website or PBS.
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