Targets for promotion of SMEs should be achieved to improve economic indicators: PM

(Karachi) Prime Minister Imran Khan has said that the targets set to promote small and medium enterprises (SMEs) should be achieved to improve economic indicators, Radio Pakistan reported on Thursday.

Chairing a meeting of National Coordination Committee on Small and Medium Enterprises in Islamabad, the PM said that the SMEs are an important component of economy and their promotion will strengthen economy and create job opportunities.

Imran said that country’s all economic indicators are on a positive trajectory and the promotion of SMEs is a must to bring further improvement.

The meeting was informed that the database of the SMEs is being updated on priority basis in order to extend timely facilities to them. The tax form of the SMEs is being simplified for them.

The officials said that the process of consultations with all the stakeholders is underway to extend financial assistance to the small and medium enterprises. In this regard SMEs fund will also be created.

The meeting was informed that Small and Medium Enterprises Development Authority (SMEDA) is being restructured to further enhance its capacity.

Earlier this year, the federal government announced a special relief package of Rs125 billion for labourers – Rs50 billion for SMEs and Rs75 billion for daily or unemployed laborers who lost jobs because of coronavirus pandemic.

Under the package the government would pay bills of power for SMEs for three months and through Ehsaas Assistance Programme, Rs12,000 per family was given to another four million to six million people.