Pakistan approves Rs2 billion to modernize Smeda — The Express Tribune

Pakistan’s Economic Coordination Committee has approved the allocation of Rs2 billion to implement a modernization plan for the Small and Medium Enterprises Development Authority (Smeda). The funds will be directed toward approved measures to support small, medium and micro enterprises in the 2026–2027 fiscal year, The Express Tribune reports.

Smeda transformation plan

The Ministry of Industries and Production told the committee that the prime minister had approved the business plan for Smeda’s modernization and transformation. The plan envisages turning the institution into a more dynamic, efficient and results-oriented body.

Its goal is to strengthen the focus on sustainable growth, modernization, productivity and competitiveness of Pakistan’s small, medium and micro enterprises. The federal budget for the 2026–2027 fiscal year earmarked Rs2 billion for approved measures under the plan.

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According to the ministry, the funding is accompanied by a plan for the use of the funds. It sets out implementation targets for individual measures, projected expenditures and funding needs during the current fiscal year.

Technical supplementary grant

The finance division agreed to transfer Rs2 billion to Smeda, but the budget allocation had to be formalized through a technical supplementary grant. This is why the submission by the Ministry of Industries and Production required approval by the Economic Coordination Committee.

To ensure transparent, accountable and targeted use of the money, a separate special account is предусмотрен at the main branch of the National Bank of Pakistan in Lahore. The account is administered by the office of the Accountant General of Pakistan Revenues in Lahore.