Small and Medium Enterprise Development Authority (Smeda) was undertaking a series of exercises for creating a conducive policy environment for SME sector. Smeda CEO Shahab Khawaja expressed these views during a meeting with Brian J. George, Vice Consul of US Consulate, disclosed a Smeda's spokesman here on Thursday. S. Aftab Qamar, commercial specialist of the US Consulate, accompanied the Vice Consul.
He apprised the envoy about the Smeda's efforts to overcome the major constraints to be faced by the SME sector. He said that the Federal Industries and Production Minister had identified seven sectors for analytical study so as to design the development strategies. "Three out of the seven selected sectors were being worked out in collaboration with USAID, which include dairy, gem and jewellery, and marble and granite," he added.
The Smeda CEO pointed out that the SME sector in Pakistan was trickled with complicated business regulations, inconsistency of the policies, less access to the formal financial resources and high cost of doing business. He apprised the US envoy that on the advice of the government Smeda was busy in making a long-term SME policy that would address all such issues amicably. To a question, he said that Pakistan lagged behind in the SME sector as compared to its neighbouring countries due to the lack of the government's attention and low level of education. However, the factor relating to the government attention had fully been covered with the inception of Smeda, he added.
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