SMEDA, AIM to enhance microfinancing in GB, AJK & Balochistan

LAHORE, Dec 08 (APP): Small and Medium Enterprises Development Authority (SMEDA) and Akhuwat Islamic Microfinance(AIM) here Monday held a collaborative meeting to enhance access to finance and mutual development initiatives

for Micro, Small and Medium Enterprises (MSMEs).

SMEDA Acting CEO Ms Nadia Jehangir Seth, while convening the meeting informed that the meeting was part of the efforts being taken by SMEDA in line with the SME development vision of the Prime Minister Muhammad Shehbaz Sharif under the guidance of SAPM Haroon Akhtar Khan and Secretary MoIP Saif Anjum.

She said both the organizations are in agreement through an earlier MoU signed for enhancing MSME access to finance, strengthen capacity-building efforts, and promote mutual support in advisory and development initiatives.

The meeting focused on extending SMEDA’s business development support services to Micro and Women Entrepreneurs with a special focus towards Gilgit Baltistan, Azad Jammu & Kashmir and Balochistan.

Acting CEO SMEDA apprised Akhuwat of the presence of SMEDA’s Regional Offices in these provinces adding to the commitment towards an effective implementation of development initiatives aimed to promote economic resilience, employment generation, financial inclusion, and improved access to affordable finance, particularly for Micro Enterprises and Women Entrepreneurs.

The Acting CEO SMEDA highlighted the persistent barriers faced by MSMEs, especially micro enterprises and women-led businesses, in accessing formal finance due to limited financial literacy and lack of advisory support. She noted that the partnership with AIM is intended to address these gaps through coordinated efforts, shared expertise, and integrated service delivery. This collaboration reflects SMEDA’s commitment to building a robust ecosystem for microfinance, business development, and MSME inclusion in the formal financial landscape.

GM Micro Enterprises Division of SMEDA, Ashfaq Ahmad, appreciated AIM’s longstanding contribution to promoting financial inclusion and micro lending, affirming SMEDA’s readiness to extend training, advisory, and advocacy programs in GB and AJK in collaboration with AIM, subject to regional cluster identification and needs assessment.

GM Gender & Sustainability,  Sheharyar Tahir, added that SMEDA will design targeted interventions for Women Entrepreneurs based on insights provided by AIM.

Representing AIM, Shahzad Akram, Chief Credit Officer, emphasized that the strengthened partnership between SMEDA and AIM will unlock new opportunities for MSMEs, particularly women-led enterprises. He assured AIM’s support and reaffirmed their commitment to the objectives of the MoU.