Daily Times

Federal Minister for Industries and Production Rana Tanveer Hussain has initiated a process to enhance coordination with provincial governments for equitable development of the SMEs across the country as per advice of Prime Minister Shehbaz Sharif.

In this regard, he held a meeting with Punjab government’s Industries department at PCOM, according to a SMEDA spokesman here Saturday. The meeting was also attended by Ehsan Bhutta, Secretary Industries Punjab, and Ms. Saira Umar, Managing Director PSIC, from the Punjab government. The minister was accompanied by Saif Anjum, Federal Secretary Industries and Production and Socrat Aman Rana, Chief Executive Officer of SMEDA. A number of the other senior officers including GM SMEDA Ms. Saleha Saeed and Ms. Nadia Jehangir Seth.

Addressing the meeting, the federal minister said that that Small and Medium Enterprises (SMEs) plays a crucial role in the economy of any country, contributing significantly to employment generation, economic growth, innovation, and social stability. SMEs are essential drivers of economic development, job creation, innovation, and social progress. The Small Medium Enterprises have momentous role in economic development of the country. Small businesses can play a key role in shaping the national growth strategy, he said, adding the development and progress of Small Medium Enterprises are top priority of the current government. The government is determined to maintain equitable development of SMEs in all provinces of the country that is why a coordination process has been initiated with provinces on direction of the PM, he said and assured that the government will facilitate and incentivize SMEs to achieve optimal economic growth in the country. He said that such coordination meetings would also be held with other province on regular basis to maintain a conducive support mechanism for SMEs across the country.

The federal minister further said that improving small and medium enterprises (SMEs) in Pakistan require a comprehensive approach addressing various aspects ranging from regulatory frameworks to access to finance and technology. The federal government will immediately take all necessary steps to facilitate SMEs for economic uplift of the people. We shall implement structural reforms such as streamlining regulations and taxes for small and medium-sized enterprises (SMEs) to promote growth and job creation, he added.