ISLAMABAD, Oct 20 (APP): Prime Minister Shehbaz Sharif on Monday directed the authorities concerned to encourage the registration of cottage small and medium enterprises (SMEs) to enable them avail business loans and pave the way for country’s industrial growth.
The prime minister, chairing a review meeting on Small and Medium Enterprises Development Authority (SMEDA) Restructuring and SME Development, appreciated the initiatives to enhance women’s participation in SMEs and called for awareness on such measures.
He emphasised setting up a clear timeline for the implementation of SMEDA’s roadmap and its early execution.
The prime minister said that the country’s industrial growth was linked with the development of cottage SMEs and cited the developed countries where they provide raw material to large industries.
He directed to conduct the training for SMEs in rural areas for processing of agricultural commodities.
Prime Minister Shehbaz expressed satisfaction with the Ministry of Industries and Production’s efforts for SMEDA’s restructuring and SME development.
During the briefing on SMEDA’s restructuring and initiatives for SME development, it was informed that offices had been established in Azad Kashmir and Gilgit-Baltistan for SME development, which was welcomed by the public and chambers of commerce.
It was told that a SMEDA board comprising private sector experts had been formed, and the appointment of the Chief Executive Officer will be finalized in the coming days.
The participants were told that following the directives of the Steering Committee, a significant progress had been witnessed in SME capacity building, loan provision, and collaboration.
Besides, an AI-powered Womenpreneurship Platform is being established to provide women with comprehensive business-related information, including registrations, tax matters, and skill awareness.
Moreover, a roadmap for integrating SMEs into the formal economy was also presented during the meeting.
The meeting was attended by federal ministers Ahad Khan Cheema, Dr. Musadik Malik, Attaullah Tarar, Special Assistant Haroon Akhtar, and relevant senior officials.