Daily Times

The Small and Medium Enterprises Development Authority (SMEDA), while celebrating the international Micro, Small and Medium Enterprises (MSME) day, has introduced a Ten-Years Cluster-Based Development Plan.

Rana Tanveer Hussain, Federal Minister Industries and Production Rana Tanveer Hussain launched the plan as Chief Guest of the ceremony Mr. Socrat Aman Rana, Chief Executive Officer of SMEDA and Dr. Muhammad Jehanzeb Khan Deputy Chairman Planning Commission also addressed the ceremony that was widely attended by a large number of SMEs, leaders of the business community and senior government officers.

Federal Minister Industries and Production Rana Tanveer Hussain, addressing the ceremony as chief guest said, our nation’s economic landscape thrives on the dynamism of Small and Medium Enterprises (SMEs), which play a pivotal role in driving growth, innovation, and job creation, making them the cornerstone of our economy.

He told that the ten-year Cluster Based Plan for SMEs, include five sectors including Fruits & Vegetable Processing, E-bike, Pharmaceutical, Sea Foods, and Marble & Granite. These studies, on these sectors, are a result of the collaboration between the Small and Medium Enterprises Development Authority (SMEDA) and the Ministry of Planning, Development, and Special Initiatives, guided by the consultation with private sector.

The plan has been meticulously charted based on the selected sector’s potential for exports, that also aligns with our Strategic Trade Policy Framework (STPF) for 2020-25, he said adding that The given facilitative cluster-based development plan is the key to unlocking the tremendous potential within our SMEs, propelling us towards a path of lasting prosperity. He hoped that the recommendations put forth in the reports are all pertinent and their implementation will definitely shape a better future of our SME sector. To achieve all of this, he called for collaboration between the government, businesses, and citizens through regular consultations, feedback mechanisms, and transparency.

He hoped that the visionary roadmap crafted by SMEDA in the form of a 10 years Cluster based development plan would enhance exports, employments and GDP to an optimal level in the next ten years. The launch of these Cluster Studies, he said, is not merely an academic exercise; it is transformative initiative that will shape the trajectory of these industries and our nation’s economic landscape.

He appreciated all stakeholders, including industry leaders, investors, academia, and civil society, to actively engage with the findings and recommendations of these studies. He assured to derive conducive policies for the five selected sectors as per recommendations of SMEDA to achieve the exports, employments and growth targets.

Earlier, Socrat Aman Rana, Chief Executive Officer of SMEDA welcomed the guests and highlighted SMEDA’s role in economic development of the country. He said that evidence based planning is need of the hour, therefore, SMEDA had got actively engaged in research and planning. He acknowledged Ministry of Industries and Productions’ support and encouragement to SMEDA’s initiatives.

He hoped that the Ministry of Planning would also own the 10-year Cluster based plan developed by SMEDA under the 5 ES vision of the Minster Planning and Development. Highlighting the potential of five selected clusters in the plan, he told that the Potato cluster can generate $339 million by value addition and the Marble & Granite cluster can achieve an annual value-addition of $48 million.

The Seafood cluster’s exports of $456 million can multiply manifold, the E-Bike cluster can surpass its current installed capacity of 1.3 million units, and the Pharmaceuticals sector can become a globally preferred market, surpassing its FY22 exports of $268.94 million, SMEDA Chief added and acknowledged government support for SMEDA’s development initiatives including the establishment of a PKR 30 billion SME Fund, the development of SME Credit Rating Systems to improve access to finance, and a robust National Women Entrepreneurship Policy to economically empower women and youth.

Regarding SMEDA’s future plan, he said, we aim to create one million new enterprises, generating six million jobs and contributing an additional US $3 billion in exports over the next five years. With these initiatives, SMEs’ share in GDP is projected to increase to 44%, adding PKR 540 billion to the economy, he added.