Committee Formed on SME Sector Development Presents Proposals to PM

The proposed National Policy on Small and Medium Enterprises 2020 was presented to Prime Minister Imran Khan here on Thursday.

Earlier, in August, a National Coordination Committee (NCC) on Small & Medium Enterprises (SMEs) development had been constituted by the prime minister to generate economic activities. According to the PM Office, the NCC has been initially tasked to review and finalize draft SME policy within two weeks.

The policy will focus on defining the scope of SMEs, fiscal and monetary incentives required for SMEs growth. It will also suggest measures to address market access and capacity issues and will identify issues faced by SMEs in acquiring credits.

Chairing the committee, the Prime Minister, was informed of the proposed draft of the relevant policy measures. He, then, directed the Minister for Industries to finalize the roadmap based on timelines for implementation of the proposed SME policy in consultation with provinces at the earliest.

He stressed upon the federal departments and provincial governments to pay special attention to the development of SMEs. He said that providing job opportunities to youth, increasing exports and wealth creation was the top priority of the government. The development of SMEs played a key role in achieving these three targets, he added.

The meeting was attended by Minister for Industries Muhammad Hammad Azhar, Adviser Dr Ishrat Hussain, federal secretaries and other senior officials. State Bank of Pakistan Governor Reza Baqir and the Provincial Chief Secretary attended the meeting through video-link.

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