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LAHORE, Dec 29 (APP):Small and Medium Enterprises Development Authority (SMEDA) and Security Exchange Corporation Pakistan (SECP) have agreed to enhance mutual collaboration for strengthening SME sector of Pakistan.
This decision came up at a meeting held between SMEDA and SECP officials here at SMEDA head office on Monday. The meeting, chaired by SMEDA CEO Ms. Nadia Jahangir Seth and SECP Commissioner Muzzafar Ahmed Mirza, was concluded to develop a formal MoU, form a joint focal group, advance women-led entrepreneurship, align SME and startup definitions, formalize businesses and establish a joint SME facilitation desk.
Ms. Nadia Jahangir Seth was accompanied by her senior management team including Ms. Saleha Saeed, Raja Hassanien Javed, Arif Chaudhry and others. Whereas, the SECP delegation led by Muzzafar Ahmed Mirza was comprised a number of the senior officials including Registrar of Companies Shehzad Afzal Khan.
SMEDA Chief welcomed the visiting delegation and highlighted the need of SMEs’ formalization. She hoped that the collaboration of both the organizations would be helpful to spur the pace of SMEs registration in the formal sector. She said that a formal MoU between the two organizations may set a long-term roadmap for mutual cooperation.
On this occasion, SECP Commissioner Muzzafar Ahmed Mirza informed that over 35,000 new companies had been registered in the current year. This figure is 27 percent higher than the previous year’s record, he said, adding that the benefits coupled with the ease of registration of companies need to be projected for attracting SMEs towards registration. He was confident that SMEDA-SECP collaboration would be able to persuade the informal SMEs to get registered in the formal sector.