Dedicated SME policy for women planned

The International Trade Centre’s ITC-FCDO Programme, known as “Revenue Mobilisation for Investment and Trade (ReMIT),” has extended an offer of collaboration to the Small and Medium Enterprises Development Authority (SMEDA) to establish a dedicated SME Policy to empower Women Entrepreneurs in Pakistan.

A technical team from ReMIT, led by Hamid Ateeque Sarwar, visited SMEDA on Monday to initiate discussions on this collaboration. The meeting revealed a stark gender disparity in labour force participation, with male participation at 67.9% and a mere 21.4% for women. Of the women engaged, only 19% are self-employed or own-account workers, and a minuscule 0.1% are employers. This highlights the urgent need to bolster women’s entrepreneurship, considering there are approximately 3.22 million women entrepreneurs in Pakistan.

During the meeting, the ReMIT team was apprised of SMEDA’s proactive efforts, with the support and guidance of the Ministry of Industries and Production (MoIP), in developing a comprehensive National SME Policy for 2021 and an associated action plan. This policy outlines a strategic roadmap for SME development and promotion across Pakistan, with a dedicated section focused on women entrepreneurship development. Furthermore, MoIP has formed a consultative group dedicated to supporting women-owned SMEs, aligning with the National SME Policy of 2021.

The government of Pakistan is currently in negotiations with the Asian Development Bank (ADB) for the signing of a five-year programme/policy loan agreement aimed at Women Inclusive Finance (WIF) Sector Development. SMEDA has been identified as a key institutional partner for this initiative.

Published in The Express Tribune, October 24^th, 2023.

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