Business
Govt ramps up assistance programs for MSMEs to play crucial role in Pakistan’s economic plan
Micro, Small and Medium Enterprises (MSMEs) have played an important role in leading the national economic development in difficult economic circumstances and the government of Pakistan is giving full support to MSMEs.
Haroon Akhtar Khan, Special Assistant to the Prime Minister for Industries and Production, said this while addressing an interactive session arranged to celebrate World MSME Day 2026. The workshop was organized by Small and Medium Enterprises Development Authority (SMEDA) at Islamabad Chamber of Small Traders and Small Industries (ICSTSI) to promote communication, networking and wider outreach to MSMEs for government support.
A quick documentary showing SMEDA’s core initiatives and efforts targeted at enhancing Pakistan’s small business environment set the tone for nationwide festivities staged to honor the United Nations designated day.
The SAPM said MSME growth is at the heart of the government’s economic goal. He said the government under Prime Minister Muhammad Shehbaz Sharif was striving to increase access to finance, promote business formalisation and create new chances for firm growth through capacity building and training programmes.
“Encouraging growth in lending by banks and microfinance institutions, access to credit is still one of our top priorities,” Haroon Akhtar Khan remarked.
Pakistan’s SME lending portfolio climbed to Rs. 853.94 billion as of March 31, 2026, from Rs. 584.44 billion on March 31, 2025, showing growth of 46 per cent, data from the State Bank of Pakistan (SBP) showed.
Similarly, the number of SME borrowers rose to 312,355 as of March 31, 2026, compared to 203,139 recorded a year earlier, representing a growth of 53.7 per cent.
“The government is equally committed to supporting women entrepreneurs and microenterprises, especially those operating in underserved areas to build a vibrant and globally competitive MSME ecosystem capable of contributing towards inclusive and sustainable economic growth,” he added.
The SAPM claimed that efforts were being made to provide possibilities to MSMEs by strengthening market access and enhancing linkages of business with various organisations including Alibaba, JICA, PIFD and financing institutions.
“The goal of the government is sustainable prosperity for our MSMEs,” he stated.
The projects of SMEDA
SMEDA Chief Executive Officer Nadia Jahangir Seth said the World MSME Day is an opportunity to acknowledge the resilience, ingenuity and contribution of millions of Pakistani businesses towards the national economy.
She added that SMEDA was focused on making MSMEs bankable and digitally enabled, highlighting its initiatives under the three-year Business Plan. She said that the organization was following a revitalized vision and strategic direction defined by the Ministry of Industries and Production and its Board of Directors.
SMEDA was striving for promotion of business formalisation through free registration facilities available through SME Registration Portal (SMERP) besides focusing on export readiness, inter-firm connections and climate related measures, she added.
She also highlighted major programs such as the SME Certification and International Accreditation Grant Programme and a five-year project to turn banana waste into eco-friendly textile items.
SMEDA was working with women-led firms and microenterprises to increase their digital and financial literacy, product development and export readiness as part of Prime Minister Shehbaz Sharif’s objective of inclusive economic growth, Seth added.
“These initiatives are also targeted at providing entrepreneurs with better market access, B2B linkages and opportunities for value chain integration,” she said.
“SMEDA continues to focus on building an enabling environment which will help enterprises to be more competitive, bankable and globally connected,” she added.
Nationwide Campaigns
The President of Islamabad Chamber of Small Traders and Small Industries, Awais Satti applauded the activities being carried out through SMEDA and welcomed the government’s increased focus on MSME growth.
He said the potential of Pakistan’s MSME sector could be unlocked by stronger public-private collaboration, better access to funding and wider market prospects.
27 June is observed as World MSME Day across the globe in recognition of the contribution of MSMEs to employment generation, innovation and sustainable economic growth.
This year SMEDA arranged interactive sessions and talks in Islamabad, Rawalpindi, Lahore, Faisalabad, Gujranwala, Gujrat, Sialkot, Multan, Sargodha, Abbottabad, Hyderabad, Dadu, Sukkur and Mirpur.
Lahore Chamber of Commerce and Industry (LCCI) in cooperation with SMEDA organised a stakeholders engagement session in Lahore. The President LCCI, Faheem Ur Rehman Saigol was chief guest on the occasion and he emphasized on the necessity of entrepreneurship and enterprise growth for boosting Pakistan’s economy.
He acknowledged the contribution of MSMEs for generating job opportunities, fostering innovation and inclusive economic growth.
Regional Chief, Central, SMEDA, Muhammad Javed Afzal spoke on the importance of World MSME Day and informed the audience about the mandate, services and current initiatives of SMEDA for MSME growth.
The seminars also offered an opportunity for participants to exchange ideas on improving the business climate and boosting the competitiveness of local businesses.
Business
India’s Jio IPO opens for public bids in record $3.2 billion sale
Jio Platforms’ (JIOP.NS) $3.2 billion IPO launches on Wednesday, testing demand for India’s largest share sale to date and the first from billionaire Mukesh Ambani’s Reliance (RELI.NS) conglomerate in two decades.
The Jio Platforms IPO will be a crucial test of global appetite for fresh share offerings at a time when investors have tightened their examination of AI-related companies which some analysts think might see them shifting away from the technology.
Jio Platforms, the parent of India’s biggest telecom firm with over 500 million subscribers, backed by Meta, Google and institutional investors, is the world’s second-largest telecom operator in a single country behind China Mobile.
The IPO values Jio Platforms at up to $108.3 billion, possibly making it one of India’s biggest corporations by market valuation when trading kicks out on October 28. About a third of the shares on offer are allocated for retail investors.
Jio Platforms this week allocated $853 million worth of shares to global and local investors including Abu Dhabi Investment Authority and BlackRock, after the reserved part for such investors attracted bids of more than $25 billion.
LAUNCH DATES FESTIVE
Retail investors and Reliance’s employees and stockholders will get a chance to join in the offering that closes Friday and has a price range of 1,065 to 1,119 rupees a share.
The IPO is Reliance’s first since 2006 and is larger than previous huge offerings such as Hyundai Motor India (HYUN.NS), opens new tab, and National Stock Exchange (NSEI.BO).
The plans were also delayed in 2025, when Ambani first said he planned to list in five years in 2019. A filing in as early as March was stymied by the Iran war sapping IPO enthusiasm.
Ambani’s son Akash runs Jio Platforms’ telecom company, which started in 2016 with the gamble that Indians would use the internet a lot more if it cost virtually nothing. It quickly seized market share from rivals like Bharti Airtel (BRTI.NS), opens new tab and Vodafone Idea (VODA.NS), opens new tab with cheap data and free voice calls.
Jio Platforms is selling its IPO in the middle of a Hindu festive season, seen as a lucky time for buying, although Indian markets have been dull in recent weeks.
Reliance this month also paid pay cheques approximately 15 days early to its more than 400,000 employees and in recent weeks helped expedite share account opening services to people interested in applying for the IPO, said a person in the business with direct knowledge of the situation.
Reliance did not immediately reply to a request for comment.
For the year ending in March, Jio Platforms posted a profit of $3.2 billion on revenue of $15.5 billion. Its telecoms division alone accounted for over 90% of those figures.
Business
Pakistan borrows Rs1,514bn in first quarter of FY2026-27
Documents of the Ministry of Economic Affairs showed that the government borrowed Rs1,514 billion during first quarter of the current fiscal year 2026-27, July-September including Rs1,037 billion in September alone.
The data show that the government borrowed around Rs913 billion more in September 2026 than in September 2025.
The documents showed that the government sold $3 billion worth of bonds in September. Of this, $1.75 billion of bonds have an interest rate of 7.5% and the rest $1.25 billion have an interest rate of 7.9%. The bonds will maturity in 2036.
The Ministry of Economic Affairs said the revenues from the issuing of the $3 billion bond could be utilised for budget support, with the Ministry of Finance as the executing agency. The amount is around Rs818 billion in local currency.
Besides the bonds, the government borrowed Rs17 billion through non-project finance, which comprises budget support and short-term loans.
“The documents also revealed that the government obtained $5.44 billion in foreign loans and grants from July to September. This was up $3.63 billion from the $1.81 billion received in the same time of the last fiscal year.
In the first quarter, the government also obtained a $300 million medium-term financing arrangement from an international commercial bank.
The Economic Affairs Division said the funds mobilised through the Naya Pakistan Certificates had witnessed a massive surge during the first quarter of the current fiscal year. During the period, Naya Pakistan Certificates worth $942.7 million were issued.
Business
PSX gains over 400 points at opening
— The Pakistan Stock Exchange (PSX) kicked off on a bullish note on Tuesday with the benchmark KSE-100 Index rising more than 400 points in early trade.
The index rose to 166,425 points at the start of the second trading session of the business week, indicating better market performance.
The KSE-100 Index closed down 453 points at 165,966 points in the last trading session.
The benchmark index turned positive during early trading after falling in the previous session. The latest gains were made as the benchmark index went into positive territory during early trading.
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