PM Khan directs expediting promotion of SMEs

By Staff Reporter
Friday – December 18, 2020
ISLAMABAD: The prime minister (PM) Imran Khan said, Thursday, all economic indicators are moving in a positive direction therefore it is necessary to promote small and medium enterprises (SMEs) for their further improvement, directed to complete the targets set for the promotion of SMEs at earliest.

According to a press release, the PM chaired a session of national coordination committee (NCC) on SMEs in federal capital.

The meeting was informed of consultations underway with all partners for providing financial assistance to SMEs.

An SME fund will also be set up in this regard.

For the promotion of SMEs, targets have been set for speedy resolution of legal, administrative and regulatory issues.

The tax form is being simplified for the convenience of small and medium business class and work is underway on registration portal.

The small and medium enterprise development authority (SMEDA) is being reorganised to build its capacity to support business community.

Working groups have been set up in the provinces to support provincial SMEs.

The database of SMEs is being updated on priority basis on the basis of which the incumbent regime will be able to facilitate SMEs in a timely manner.

PM Khan said, SMEs are an important part of the economy, promoting them will strengthen the economy and increase employment opportunities.

The finance and revenue minister (FRM) Abdul Hafeez Shaikh, industries and production minister (IPM) Hammad Azhar, special assistant to PM (SAPM) on youth affairs Usman Dar attended the meeting.

Sindh chief secretary (CS), Gilgit-Baltistan (GB) CS, Punjab CS, Khyber Pakhtunkhwa (KP) CS, Balochistan CS, Azad Jammu and Kashmir (AJK) CS, Trade Development Authority of Pakistan (TDAP) chief executive officer (CEO) participated from video link.

The secretaries to industries and production ministry, commerce ministry, finance division, energy ministry, petroleum division, law and justice division also participated in the meeting.

In addition board of investment (BoI) chairman, federal board of revenue (FBR) chairman and State Bank of Pakistan (SBP) deputy governor were present.

Also present were Securities and Exchange Commission of Pakistan (SECP) commissioner, SMEDA CEO, public procurement regulatory authority (PPRA) managing director (MD) and senior officers.