LAHORE: The Small and Medium Enterprises Development Authority (SMEDA) and the Pakistan Microfinance Investment Company Limited (PMIC) are exploring collaboration to expand access to finance for microenterprises across the country.
The understanding was reached during a meeting between the senior management of both organisations at SMEDA’s head office. SMEDA Chief Executive Officer Nadia Jahangir Seth led her team, which included General Manager Gender and Sustainability Sheharyar Tahir and Deputy General Manager Financial Services Farah Yasir. PMIC Chief Executive Officer Yasir Ashfaq was accompanied by Chief Operating Officer Saqib Siddiqui and Head of Corporate Finance and Investment Banking Bilal Abdul Razzaq.
The two sides discussed measures to strengthen financial inclusion and support underserved business segments, particularly microenterprises and women-led businesses. Seth said SMEDA oversees the non-banking aspects of MSME development, including business development services, cluster development, policy input and facilitation of access to finance. In line with the prime minister’s SME development vision, she said, the authority is designing targeted programmes in collaboration with financial institutions to improve financing opportunities for underserved segments.
She stressed that closer coordination with PMIC could help scale up microfinance solutions for MSMEs and called for the development of a structured framework to operationalise the partnership.
Ashfaq said PMIC is working to expand microfinance services for small businesses, with a focus on agriculture, education, climate resilience and women-led enterprises. He underscored the importance of deeper collaboration with SMEDA to strengthen nationwide microfinance outreach for MSMEs.
He also proposed holding a joint MSME conference on microfinance later this year to bring together key stakeholders and promote dialogue on expanding financial access. Tahir said stronger collaboration with microfinance institutions such as PMIC is essential to address the financing needs of microenterprises effectively. Yasir added that SMEDA is promoting financial literacy among MSMEs through training programmes organised in collaboration with SME-focused trade bodies, aimed at improving businesses’ readiness to access formal finance.
