ISLAMABAD, Sep 12 (APP):The Prime Minister’s Youth Programme (PMYP) and the Small & Medium Enterprises Development Authority (SMEDA) on Saturday signed a memorandum of understanding (MoU) at the Prime Minister’s Office to expand support for young entrepreneurs and micro, small and medium enterprises (MSMEs) across Pakistan, with the partnership focusing on entrepreneurship, skills, access to finance, capacity building and inclusive economic opportunities, particularly for women and underserved communities. The agreement …
PMYP, SMEDA team up to boost youth, small businesses
ISLAMABAD, Sep 12 (APP):The Prime Minister’s Youth Programme (PMYP) and the Small & Medium Enterprises Development Authority (SMEDA) on Saturday signed a memorandum of understanding (MoU) at the Prime Minister’s Office to expand support for young entrepreneurs and micro, small and medium enterprises (MSMEs) across Pakistan, with the partnership focusing on entrepreneurship, skills, access to finance, capacity building and inclusive economic opportunities, particularly for women and underserved communities.
The agreement was signed during a high level meeting chaired by PMYP Chairman Rana Mashhood Ahmad Khan and witnessed by senior officials, including SMEDA Chief Executive Officer Nadia Jahangir Seth, General Manager Policy and Ecosystem Group Sheharyar Tahir and PMYP Joint Secretary Dr Muhammad Ali Malik.
Adviser to the Prime Minister and Federal Minister for Industries and Production Haroon Akhtar Khan was also present.
Under the MoU, the two institutions will work together to strengthen the entrepreneurial ecosystem by combining their institutional expertise, resources and outreach to provide greater access to knowledge, business development support and entrepreneurial opportunities.
The collaboration is also expected to complement existing government initiatives aimed at improving access to financing for young entrepreneurs, including the Prime Minister’s Youth Business and Agriculture Loan Scheme.
PMYP is a flagship government initiative aimed at empowering young people through education, skills development, employment, entrepreneurship and other avenues of youth development.
SMEDA, an autonomous institution under the Ministry of Industries and Production, is mandated to promote and facilitate the growth of SMEs and provides policy advice and support to stakeholders involved in the sector.
Officials said the partnership would help improve institutional coordination and create more sustainable economic opportunities for young people and businesses, while promoting inclusive growth and financial inclusion.
The initiative places particular emphasis on ensuring that women entrepreneurs and other under-served and marginalised groups are able to benefit from emerging opportunities in enterprise development.
The agreement is being viewed as a step towards strengthening the country’s youth and MSME sectors and advancing the government’s broader objectives of entrepreneurship promotion, employment generation, inclusive economic growth and sustainable livelihoods.
