MSMEs key driver of economic growth; speakers on World MSME Day

RAWALPINDI, Jun 27 (APP): Speakers at a World MSMEs Day event highlighted the pivotal role of Micro, Small and Medium Enterprises (MSMEs) in driving economic growth, innovation and employment, calling for enhanced collaboration to further strengthen the sector.

The session was organised by the Small and Medium Enterprises Development Authority (SMEDA) in collaboration with the Rawalpindi Chamber of Commerce and Industry (RCCI) to mark World MSME Day 2026 here on Saturday.

RCCI President Usman Shaukat, who was the chief guest, said that MSMEs were the backbone of Pakistan’s economy and a major source of job creation and innovation. He stressed the need for closer coordination between public and private sectors to unlock the full potential of small businesses.

District Officer SMEDA, Mohammad Asghar Nasar, highlighted the significance of the day and briefed participants on SMEDA’s mandate, services and ongoing initiatives under the Ministry of Industries and Production.

He said that SMEDA was facilitating entrepreneurs through business development services, policy advocacy, access to finance, export support, cluster development and capacity-building programmes.

Senior Vice President RCCI Khalid Farooq Qazi, Vice President Fahad Barlas, Chief Manager State Bank Rizwan Khaleel Shamsi, along with representatives of trade bodies, financial institutions, academia, women and young entrepreneurs attended the session.

Participants appreciated SMEDA’s role in strengthening the MSME ecosystem and providing a platform for stakeholder engagement.

During the interactive session, stakeholders discussed key challenges faced by MSMEs, including access to finance, business formalisation, export development, regulatory issues and digitalisation, besides other district-specific concerns.

Participants also shared recommendations aimed at improving the business environment and enhancing the competitiveness of local enterprises.