SME Lending Set to Boost Economic Growth: Mian Kashif Ashfaq
By hanif sabir
Published: 18 Oct 2026
2 min read
SME Lending Set to Boost Economic Growth: Mian Kashif Ashfaq
*Lahore, October 18:* Pakistan Furniture Council Chief Executive Officer Mian Kashif Ashfaq, recipient of the Tamgha-e-Imtiaz, has said that the Prime Minister’s target of increasing lending to small and medium-sized enterprises (SMEs) to Rs2.2 trillion by 2028 will play a significant role in promoting sustainable economic growth, creating employment opportunities, and expanding business activities.
Speaking to a delegation of women entrepreneurs led by Amina Abdullah Arain, he said the business community was the backbone of the national economy, while SMEs had enormous potential to drive economic growth, generate employment, and create new business opportunities.
He emphasised the need to promote entrepreneurship in underdeveloped and disadvantaged areas, saying that creating local business and employment opportunities could help reduce migration to major urban centres and promote balanced regional development.
Mian Kashif Ashfaq welcomed the memorandum of understanding with global e-commerce company Alibaba, saying the initiative would provide training to 10,000 people associated with SMEs over a period of two years. He also appreciated the proposed AI-powered helpline designed to provide business guidance in local languages, describing it as a useful initiative to strengthen the capabilities of entrepreneurs.
He urged the Small and Medium Enterprises Development Authority (SMEDA) to establish offices across the country to facilitate access to business advisory services, financing, and other essential support for small businesses.
He also stressed the need to train young people and women in modern information technology skills. He called for a nationwide awareness campaign to help entrepreneurs access business loans, prepare viable business plans, and develop their entrepreneurial capabilities.
He said these measures could expand self-employment opportunities, encourage new business ventures, and enable SMEs to make a greater contribution to Pakistan’s economic development.
