SMEDA, PMIC Mull Strategic Collaboration to Expand Microfinance for MSMEs

By Dr Ansab Ali | Lahore, Pakistan
LAHORE: The Small and Medium Enterprises Development Authority (SMEDA) and the Pakistan Microfinance Investment Company Limited (PMIC) have agreed to collaborate to enhance access to finance for microenterprises across the country.
The understanding was reached during a meeting between the senior management of both organizations held at SMEDA’s Head Office in Lahore. The collaborative initiative aims to strengthen financial inclusion and support underserved business segments nationwide.
CEO SMEDA Nadia Jahangir Seth led her delegation comprising GM Gender and Sustainability Sheharyar Tahir and DGM Financial Services Farah Yasir. CEO PMIC Yasir Ashfaq was accompanied by Chief Operating Officer Saqib Siddiqui and Head Corporate Finance and Investment Banking Bilal Abdul Razzaq.
Nadia Jahangir Seth stated that SMEDA oversees the non-banking side of MSME development, including business development services, cluster development, policy inputs, and facilitation of access to finance. She noted that, in line with the Prime Minister’s SME development vision, SMEDA is designing targeted programmes in collaboration with financial institutions to improve financing opportunities for underserved segments, particularly women entrepreneurs and microenterprises.
She emphasized that closer collaboration between SMEDA and PMIC could play a pivotal role in promoting tailored microfinance solutions for MSMEs and called for the development of a focused framework to operationalize the partnership.
Yasir Ashfaq highlighted that PMIC is working to expand microfinance services for small businesses, with particular emphasis on agriculture, education, climate resilience, and women-led enterprises. He underlined the importance of enhanced coordination between PMIC and SMEDA to achieve their shared objective of strengthening microfinance outreach nationwide.
He also proposed organizing a joint MSME conference on microfinancing later this year to bring together key stakeholders and promote dialogue on expanding financial access for small businesses.
Sheharyar Tahir observed that stronger collaboration with microfinance institutions such as PMIC is essential to effectively address the financial needs of microenterprises, while Farah Yasir noted that SMEDA is actively promoting financial literacy among MSMEs through training programmes organized in partnership with SME-focused trade bodies, aimed at improving businesses’ readiness to access formal finance.
The proposed partnership is expected to contribute significantly to enhancing financial inclusion and supporting sustainable growth within Pakistan’s micro, small, and medium enterprise sector.