ISLAMABAD:A committee constituted by Prime Minister Muhammad Shehbaz Sharif would submit a comprehensive plan for the reorganisation of the Small and Medium Enterprises Development Authority (SMEDA) within four weeks to expand business support and improve access to finance for micro, small and medium enterprises (MSMEs) across the country.
The committee, chaired by Adviser to the Prime Minister on Industries and Production Haroon Akhtar Khan, on Tuesday discussed measures to revitalise the institution, expand its nationwide outreach and improve the accessibility and quality of its services, a news release said.
During the meeting, Haroon Akhtar Khan said the Prime Minister had directed that SMEDA’s outreach be substantially expanded, particularly to support women entrepreneurs and businesses in rural and underserved areas.
He stressed the need to ensure access to finance, business advisory services and institutional support for small entrepreneurs at the grassroots level so that they could benefit from government assistance regardless of their location.
The Adviser said SMEDA had remained dormant for years but had been revitalised under the vision of the Prime Minister.
He said the institution had significant potential to promote entrepreneurship, strengthen small businesses and contribute to economic growth.
The committee decided to examine international best practices and successful institutional models to prepare a practical reorganisation plan suited to Pakistan’s economic and business environment.
Members of the SMEDA Board were also included in the committee to ensure institutional input and consultation in developing reform proposals.
Haroon Akhtar Khan said the appointment of Rana Attique as Chief Coordinator for SMEs reflected the government’s commitment to strengthening coordination and improving support for the sector.
Highlighting the sector’s economic significance, he said small and medium enterprises accounted for approximately 99 per cent of Pakistan’s business enterprises and contributed around 78 per cent of employment.
He emphasised that strengthening SMEs was essential for job creation, entrepreneurship, expanding economic opportunities and promoting inclusive economic growth.
The meeting was attended by Minister of State for Finance and Railways Bilal Azhar Kiyani, Prime Minister’s Coordinator for Commerce and Industries Rana Ihsan Afzal, Federal Secretary for Industries and Production Ihsan Ali Mangi, Federal Secretary for Commerce Jawad Paul, SMEDA Chief Executive Officer Nadia J. Seth, Additional Secretary for Industries and Production Humaira Zia Mufti, members of the SMEDA Board and other senior government officials.