PM aide seeks SME development strategies

Emphasises these will create job opportunities, promote exports

LAHORE: Adviser to the Prime Minister on Commerce, Textile, Industry, Production and Investment Abdul Razak Dawood has appreciated services of the Small and Medium Enterprises Development Authority (Smeda) for the promotion of small and medium units in the country.

His remarks came while exchanging views with the Smeda management, led by CEO Sher Ayub Khan. The adviser suggested to the authority to identify high-potential small and medium enterprises (SMEs) and frame development strategies in order to generate employment opportunities and support export promotion in the country.

“The development strategies should offer equitable business prospects to all provinces,” he stressed. “The mineral sector in Balochistan and the tourism sector of Khyber-Pakhtunkhwa should be the centre of focus to steer development on modern lines.”

Dawood acknowledged that SMEs were the backbone of Pakistan’s economy, adding that the government was undertaking every possible step to promote entrepreneurship culture in the country by uplifting small units.

“Hence, Smeda has a vital role to play in fulfilling the economic agenda of the government,” he emphasised while assuring the authority of coming up with policies that would facilitate the ease of doing business.

He advised Smeda to develop viable policy proposals to assist the SMEs in accessing finance, upgrading technology and creating market linkages.

“For framing realistic policies for the SMEs, Smeda should review the number of SMEs location-wise across the country,” he pointed out. “It should also revisit the definition of SMEs in consultation with eminent economists and stakeholders of the sector.”

Earlier, the Smeda CEO apprised the adviser about the services, products and projects undertaken by the authority for the promotion of SMEs.

He said Smeda had facilitated an investment of over Rs29.73 billion over the past decade by holding hands of SMEs and assisted in upgrading the existing SME clusters by providing them common facility centres financed through the PSDP. 

Published in The Express Tribune, November 16^th, 2018.

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