Broadening the scope: Definition of SMEs redefined

Firms having employment strength upto 250, assets up to Rs100 million and turnover of Rs300mn will be treated as SMEs.

KARACHI:

Stakeholders in small and medium enterprises (SMEs) had reportedly requested the National Committee for SMEs (NCSMEs) to revisit the definition of SMEs under the SME Policy and broaden its scope.

NCSME chairman Zulfikar Thaver said the committee, after deliberations with stakeholders, had now arrived at a uniform definition based on parameters of employment strength, assets and turnover.

He said the employment strength was taken up to 250, assets up to Rs100 million and those having a turnover of Rs300million would now come within the definition of SMEs to accommodate all small to medium sized entrepreneurs including schools and hospital owners. However, for trading and services, the parameters are up to 50 persons for employment strength and up to Rs50 million for assets and up to Rs100 million for turnover.

Published in The Express Tribune, January 18^th, 2013.

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