Prime Minister Shehbaz Sharif has urged the federation and provinces to work together to promote small and medium-sized businesses, saying that small and medium-sized businesses are the backbone of the country’s economy.
According to a statement issued by the Prime Minister’s Office, a meeting was held in Lahore under the chairmanship of Prime Minister Shehbaz Sharif on the promotion of small and medium-sized businesses and the Small and Medium Enterprises Development Authority (SMEDA).
Prime Minister Shehbaz Sharif said that small and medium-sized businesses are the backbone of the country’s economy, the government is taking all possible steps to provide facilities to small and medium-sized businesses.
He said that comprehensive measures are needed to make Pakistani industries a part of the global supply chain, and the federation and all provinces should work together to develop SMEs.
The meeting was also briefed on the performance of SMEDA and informed that on the instructions of the Prime Minister, the board of SMEDA has been formed and the meetings of the board of directors are being held regularly.
It was informed in the briefing that as per the instructions of the Prime Minister, the process has been started to get the services of international quality experts for the development of the SME sector in the country.
Regarding SMEDA, it was informed that the Chief Secretaries of Gilgit-Baltistan and Azad Jammu and Kashmir have also been included in the steering committee of the SME sector. The State Bank of Pakistan has instructed the banks to make the bank forms more simple and easy for providing loans to SMEs.
It was informed in the briefing that the Federal Ministry of Industries and Production has further improved its contacts with the provincial governments regarding the development of the SME sector.
The meeting was informed that the governments of Sindh and Balochistan have prepared a comprehensive action plan for the SME sectors, while the governments of Punjab, Khyber Pakhtunkhwa, Gilgit-Baltistan and Azad Jammu and Kashmir are working on a comprehensive strategy.
It was further informed that data on SMEs across the country is being collected on the directions of the Prime Minister.
