SMEDA, FPCCI discuss MSME development

Zaki Ijaz cites limited finance, high costs and regulatory hurdles as key challenges

LAHORE:

Small and Medium Enterprises Development Authority (SMEDA) CEO Nadia Jahangir Seth has said the authority is working to create an enabling ecosystem for micro, small and medium enterprises (MSMEs) to grow and contribute more effectively to the national economy, according to a statement issued on Saturday.

Speaking during a visit by a SMEDA delegation to the regional office of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in Lahore, Seth highlighted the vision of Prime Minister Shehbaz Sharif to boost economic growth through SME development. She said SMEDA has undertaken strategic initiatives aimed at unlocking the potential of MSMEs across the country.

"SMEs are the backbone of Pakistan's economy and hold tremendous potential for job creation, innovation and export growth. SMEDA is fully committed to equipping them with the tools, opportunities and policy support needed to thrive in an increasingly competitive environment," she stated.

The CEO highlighted key interventions including dedicated initiatives for women entrepreneurs, SME registration and formalisation, export promotion support and improved facilitation services. She noted that special measures had also been introduced to help ease financial constraints and improve access to economic opportunities.

FPCCI Regional Chairman and Vice President Zaki Ijaz said MSMEs are globally recognised as a key driver of economic growth. He noted that Pakistan's SME sector continues to play a vital role despite facing structural challenges, including limited access to finance, rising cost of doing business, complicated regulatory procedures, technological adaptation barriers and export?related constraints. "Pakistan's sustainable economic progress depends on a strong and resilient SME sector. Strengthening SMEs is essential for enhancing productivity, creating jobs and improving the country's export competitiveness," he remarked.

Ijaz also noted that Seth had been conferred the Tamgha?e?Imtiaz by the government in recognition of her services in SME development, public policy and women entrepreneurship promotion. SMEDA and FPCCI reaffirmed their commitment to pursuing collaborative initiatives aimed at strengthening MSMEs and enhancing their contribution to Pakistan's economic growth. Senior officers of SMEDA accompanied the CEO during the visit.