ISLAMABAD, Aug 30 (APP): Prime Minister Imran Khan Monday while calling the Small and Medium Enterprises (SMEs) the most crucial component of national economy, called for early finalization of a proposed policy for the sector’s uplift.
The prime minister, chairing a review meeting for promotion of SMEs, said the incumbent government was specially facilitating the sector as it was neglected in the past.
Federal ministers Shaukat Fayaz Tarin and Khusro Bakhtiar, Commerce Advisor Abdul Razzak Dawood, Special Assistant to PM Dr Shahbaz Gill, and senior officials attended the meeting. State Bank Governor Raza Baqir joined via video link.
The prime minister instructed for provision of incentives and loans under the government’s Ease of Doing Business policy.
Secretary Industries and Production Division briefed the meeting on the contours of the proposed SMEs policy.
It was told that the SMEs contributed to 40% of country’s GDP and that the sector was being extended tax relief.
The federal secretary told the meeting that the federal cabinet had already approved an action plan for uplift of the SMEs sector. The SMEs linked with the IT sector were being given special incentives, he added
Moreover, the SMEs would also be given loans under the State Bank’s supervision.
The meeting was told that all stakeholders had been consulted to remove all lacunae from the proposed policy.