Summary PMYP and SMEDA have signed an MoU to expand financing access, training and business support for young entrepreneurs and MSMEs across Pakistan.
ISLAMABAD (Web Desk) – The Prime Minister’s Youth Programme (PMYP) and the Small and Medium Enterprises Development Authority (SMEDA) have joined forces to strengthen access to finance and business support for young entrepreneurs and micro, small and medium enterprises (MSMEs) across Pakistan.
The two organisations signed a Memorandum of Understanding (MoU) on Thursday to promote collaborative initiatives for MSMEs, with particular attention to underserved communities, women entrepreneurs and emerging businesses.
Adviser to the Prime Minister on Industries & Production Haroon Akhtar Khan, Chairman PMYP Rana Mashhood Ahmad Khan and CEO SMEDA Nadia Jahangir Seth witnessed the signing ceremony. Joint Secretary PMYP Dr Muhammad Ali Malik and General Manager, Policy & Ecosystem Group, SMEDA Sheharyar Tahir signed the agreement on behalf of their respective organisations.
The partnership builds on the government’s efforts to facilitate MSMEs by combining PMYP’s youth outreach and digital platforms with SMEDA’s expertise in enterprise development, business advisory services, financial literacy and capacity building.
Haroon Akhtar Khan welcomed the collaboration, saying improved access to finance was essential to converting Pakistan’s entrepreneurial potential into productive businesses, employment and investment.
He said the government, under Prime Minister Shehbaz Sharif’s vision, was focused on creating an environment where young people could turn ideas into viable enterprises and existing MSMEs could obtain the resources needed for growth.
“As Pakistan’s youth represent one of our greatest assets, our objective is not only to provide financing opportunities but also to ensure that young entrepreneurs have the knowledge and support required to use finance productively and build sustainable businesses,” he said.
Khan said the partnership would help address the gap between financing and enterprise readiness by bringing financial access together with business knowledge, training and advisory services.
Rana Mashhood Ahmad Khan highlighted key initiatives being undertaken under PMYP and expressed hope that cooperation with SMEDA would help reduce financing barriers and improve the competitiveness of entrepreneurs.
Nadia Jahangir Seth described the MoU as an important step towards making financing more accessible to entrepreneurs, stressing that loans alone were not sufficient to ensure successful businesses.
“Access to finance is not simply about availability of loans but entrepreneurs also need the right information, business planning tools, financial literacy and guidance to successfully navigate the process,” she said.
Seth said SMEDA would bring its business development resources and expertise closer to young entrepreneurs and MSMEs through the new partnership.
She added that SMEDA was already implementing several initiatives for MSMEs, particularly women-led businesses and microenterprises, under a three-year Business Plan developed in line with the strategic direction of the Ministry of Industries & Production.
Under the collaboration, SMEDA will support awareness campaigns, training and outreach programmes while offering practical resources including pre-feasibility studies, business plan templates and financial tools.
The authority will also conduct awareness and training programmes on the Prime Minister’s Youth Business & Agriculture Loan Scheme (PMYB&ALS), covering eligibility criteria, documentation requirements and the application process.
SMEDA will further work with banks and other stakeholders to promote financial literacy and awareness of formal financing options.
A key element of the agreement is SMEDA’s role in generating new business ideas, while PMYP will facilitate financing under its programmes.
According to the MoU, PMYP will disseminate scheme-specific support materials prepared by SMEDA through its social media platforms and Digital Youth Hub (DYH).
The Digital Youth Hub will feature selected SMEDA resources, giving young entrepreneurs convenient digital access to information on business development and financing.
The organisations will also jointly enhance the visibility of the PMYB&ALS through dedicated information slots and clickable links on their respective websites, according to the agreement.
The collaboration is expected to create a more connected support system linking entrepreneurial ideas with business guidance, financial literacy, training and financing opportunities for MSMEs across the country.
