Pakistani Prime Minister Muhammad Nawaz Sharif has approved the Prime Minister’s Small Business Loan Scheme to promote investment opportunities among Pakistani expatriates in the Kingdom and elsewhere in the world.

“We are very grateful to our government for providing this opportunity to Pakistani expats, who are keen to launch small and medium-level businesses in Pakistan,” said Waseem Hayat Bajwa, commercial attaché at the Pakistani Embassy.

He said, “This is a good indication that Pakistani expatriates have shown keen interest to invest in their country. The government is making all efforts for the betterment of the future of Pakistani youth.”

“The participation of the Pakistani community will help boost the economy and trade in the country,” he said, adding that the Small and Medium Enterprises Development Authority (SMEDA) had developed 50 pre-feasibility studies on small businesses having significant investment potential in various SME sectors for effective implementation of the scheme.

These pre-feasibility studies have been uploaded at the SMEDA website (www.smeda.org.pk), and around 78,873 downloads of these pre-feasibilities have been recorded in two weeks and is still counting.

“The National Bank of Pakistan and The First Women’s Bank have been nominated to initiate the scheme, while SBP will encourage other banks to participate,” Bajwa said. These pre-feasibilities studies have been downloaded by young entrepreneurs and potential investors from within Pakistan, Saudi Arabia and other countries.

The applications and assessment of business development needs as well as identification of service providers and consultants and other details are also available at the website.