A meeting, chaired by Special Assistant to Prime Minister on Industries and Production Haroon Akhtar Khan on Tuesday, discussed the restructuring of the Small and Medium Enterprises Development Authority (Smeda) with a focus on increasing the private sector's role and improving the overall business environment.
According to a statement, participants of the huddle emphasised the need for minimising public sector intervention in Smeda operations and promoting a more dynamic and independent role for private stakeholders in driving SME growth.
A foundational agreement was reached on enhancing the contribution of the private sector to the development of SMEs.
They agreed on the importance of reducing government control while establishing a sustainable support mechanism for Smeda to ensure its long-term viability.
Strategic consultations with the State Bank of Pakistan were also discussed, particularly regarding the resolution of persistent SME financing challenges.
The development of a practical and result-oriented SME financing strategy was a key point of discussion.
A new operational model for Smeda is currently being developed, backed by a comprehensive five-year strategic framework. This model seeks to align Smeda's functions with market needs and improve its effectiveness in facilitating SME growth.
It was agreed that greater private sector involvement and a redefined structural approach would enhance Smeda's ability to support small and medium-scale enterprises across the country.
"The proposed changes are expected to significantly improve business climate and create new opportunities for entrepreneurship and innovation," the statement said.
Late last month, Smeda brought together industry leaders, policymakers and experts for a pivotal panel discussion on "Digital Trade Facilitation for SMEs" in Lahore. The event explored ways to strengthen digital trade capabilities for Pakistan's SMEs, identifying key challenges and opportunities.
The panel focused on the barriers SMEs faced in accessing global markets and how digital solutions could ease trade processes, reduce costs and enhance competitiveness.
A key highlight of the event was the signing of a memorandum of understanding (MoU) between Smeda and Pakistan Single Window, marking a strategic collaboration to integrate SMEs into the global trade ecosystem. The MoU aims to simplify trade procedures through digital solutions and offer SMEs and women entrepreneurs access to market intelligence, data analytics and resources tailored to their export needs.
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