Prime Minister Shahbaz Sharif has said that the registration of domestic industries should be encouraged so that it is easier for them to get loans for business expansion.
A review meeting was held under the chairmanship of Prime Minister Shahbaz Sharif on the reorganization of SMEDA and the development of SMEs.
The Prime Minister expressed satisfaction with the steps taken by the Ministry of Industries and Production for the reorganization of SMEDA and the development of SMEs.
The meeting was attended by Federal Ministers Ahad Khan Cheema, Dr. Mosaddiq Malik, Attaullah Tarar, Special Assistant Haroon Akhtar and relevant senior officials. The meeting was briefed on the steps taken for the reorganization of SMEDA and the development of SMEs.
The meeting was informed that offices have been opened in Azad Kashmir and Gilgit-Baltistan for the development of SMEs, which is being welcomed by the public and chambers. A board of SMEDA consisting of private sector experts has been formed, while the appointment of the Chief Executive Officer will be completed in the next few days.
The meeting was further informed that due to the orders of the steering committee, there has been a significant increase in the capacity of SMEs, provision of loans, capital and collaboration.
To encourage women in the SME sector, a Womenpreneurship Platform is being created, which will be based on artificial intelligence.
This platform will provide women with complete information regarding the business sector, as well as registrations, tax issues and skill awareness.
A roadmap of measures to make SMEs a part of the formal economy was also presented to the meeting.
The Prime Minister directed that a clear period be fixed for the implementation of the SMEDA roadmap and its implementation should be ensured as soon as possible, as Pakistan’s industrial development is conditional on the development of domestic, small and medium-scale industries.
The Prime Minister said that in developed countries, SMEs provide raw materials for large industries, and training should be ensured for SMEs in rural areas for processing agricultural commodities.