Deputy Chairman Senate Calls SMEs
Backbone of Pakistan’s Economy, Stresses Greater Opportunities for Youth and Women.
Rawalpindi:(Special Representative)According to Global times News Agancy Europe,Deputy Chairman Senate Syedaal Khan has termed Small and Medium Enterprises (SMEs) the backbone of Pakistan’s economy, stressing that providing young people and women with greater entrepreneurial opportunities, easy access to finance, modern technology and global markets is essential for sustainable economic growth.
He expressed these views while addressing the International SMEs Excellence Awards 2026, organized by the Rawalpindi Chamber of Small Traders and Small Industries in Islamabad, as the Chief Guest.
The Deputy Chairman Senate congratulated the Rawalpindi Chamber of Small Traders and Small Industries on organizing the event and appreciated the efforts of its President, Sardar Saqib Naseem, and Chairman Awards Committee, Muhammad Rauf Raja. He said recognizing the hard work, innovation and commitment of entrepreneurs and business organizations not only encourages them but also serves as an inspiration for other young people and aspiring entrepreneurs.
Syedaal Khan said that approximately 7.14 million micro, small and medium enterprises are operating in Pakistan. He emphasized that strengthening a small business means strengthening a family, a community and, ultimately, the economic future of the country.
“Pakistan needs young people who are not merely job seekers but job creators,” he said, adding that a successful entrepreneur generates income for themselves while creating employment opportunities for others.
The Deputy Chairman Senate said that the youth are Pakistan’s greatest asset, but unlocking their full potential requires more than education. They need skills, access to capital, technology, training, mentorship and market access. He stressed the need to build confidence among young people so that they can transform their ideas into successful businesses, institutions and internationally recognized brands.
Referring to the financial challenges faced by SMEs, Syedaal Khan said access to affordable and low-cost financing remains a major challenge. He appreciated government initiatives aimed at promoting SME financing and financial inclusion, adding that the 2026–28 Access to Finance Plan also focuses on improving access to affordable credit for priority sectors, including SMEs.The Deputy Chairman Senate underscored the importance of women’s economic empowerment, saying that women entrepreneurs must be provided better access to finance, training, digital platforms and both domestic and international markets.Pakistan cannot achieve its full economic potential without meaningful economic participation of women,” he said.He emphasized that Pakistani SMEs should not remain confined to domestic markets but should leverage e-commerce, digital marketing, modern technology and internationally competitive products to enter global markets. Integrating SMEs into global value chains, he said, can create new opportunities for foreign exchange earnings, employment and economic growth.
Syedaal Khan said Parliament’s role was not limited to legislation but also included developing policies and laws that create a business-friendly environment. He stressed that an enabling business climate, transparent systems, policy stability, fewer regulatory hurdles and greater investment opportunities were essential for building a strong economic foundation.He assured the business community that Parliament was seriously addressing the country’s economic interests and the challenges faced by the business sector. He added that the suggestions, experiences and recommendations of the business community were of great importance in the policymaking process.The Deputy Chairman Senate extended his heartfelt congratulations to the successful entrepreneurs and organizations receiving the International SMEs Excellence Awards 2026, saying that the awards were not merely an honour but also a call for greater hard work, innovation and national responsibility. He said the success of accomplished entrepreneurs could serve as a source of hope, inspiration and encouragement for the country’s youth.