Government mulls multi pronged SME Policy for economic development. Makhdum Khusro Bakhtiar holds meeting with SME multi stakeholders on proposed SME Policy in virtual format.
Mr. Jawwad Raffique Malik, Secretary Industries and Production, along with senior officials of Ministry and Mr. Hashim Raza, CEO SMEDA participated in the meeting. During the meeting, the representatives of manufacturer, exporter associations and female entrepreneurs were taken on board.
The purpose of the meeting was to enhance cross sectoral participation and foster dialogue with SME stakeholders in policy-making process. The meeting also reflected upon the recommendations from stakeholders with regards to the upcoming National SME policy in detail. The meeting also discussed the national SME policy in purview of financial incentives, taxation systems and regulatory simplification for SMEs of the country.
Pakistan’s SME Policy
In opening remarks, the Minister said that the government would formulate SME policy in accordance with the Prime Minister Imran Khan’s vision to promote cross-sectoral small and medium scale industries to generate employments and enhancing capacity of export-oriented enterprises of the country. The Minister noted that the proposed SME policy would augment growth of women oriented businesses, entrepreneurship, pharmaceuticals, IT enabled & farm services in the country as well as it would also support the entripers to explore local & international market opportunities.
The Minister apprised the forum that government would ease credit facilities and services for SMEs. He said that the government would further encourage SMEs to participate in public procurements. During interaction, SME stakeholders commend GoP for placing promotion of SMEs squarely on the national economic agenda.
The businessmen & industrialists lauded the incumbent government for relaxations in terms of taxes and approved action plan for SMEs to promote business in the country. In concluding remarks, the Minister reaffirmed that the Ministry of Industries and Production with collaboration of SMEDA would continue to engage all stakeholders in the process of formulating a comprehensive SME policy.