NCC pushes SME development initiatives

The National Coordination Committee (NCC) for Small and Medium sized Enterprises (SMEs) Development convened its 11th meeting on Tuesday to foster investment and entrepreneurship opportunities, according to a press statement. The meeting was chaired by Federal Minister for Industries and Production Rana Tanveer Hussain who addressed an 11-point agenda aimed at developing and facilitating SMEs.

The minister emphasised that SMEs are the bedrock of the economy and, in line with the prime minister’s directives, efforts are underway to streamline the registration process and provide facilitating support to SMEs, ensuring their seamless operation and growth.

The meeting aimed to enhance business viability by reducing operational costs, increasing investment incentives, providing accessible credit facilities for SMEs to launch and grow their ventures, and allocating land in industrial estates specifically for SMEs to establish and expand their operations.

Additionally, the meeting resolved to empower women entrepreneurs through various initiatives and allocated a dedicated fund of Rs5 billion to establish a comprehensive SMEs fund, aiming to provide financial support and stimulate the growth of small and medium enterprises.