LAHORE: Small and Medium Enterprises Development Authority (Smeda) CEO Farhan Aziz Khwaja has said that the Authority would complete its homework for the uplift of the SMEs during the period of the caretaker government and would be ready with a strategy for the promotion and development of this sector on modern lines.

He disclosed this during a telephonic meeting with the Union of Small and Medium Enterprises (UNISAME) President Zulfikar Thaver. He also expressed his desire to work hand in hand with UNISAME and other stakeholders.

On this occasion, UNISAME President Zulfikar Thaver apprised the Smeda CEO of the turmoil facing the SMEs due to the lack of foreign exchange funds for imports and on top of it the high rate of interest which was destroying the entrepreneurs.

“SME promotion and development is not everybody’s cup of tea and its promotion was no charity, it is the duty of the state and the right of the underprivileged,” he added.

He showed concern over the high cost of energy for industries. He reminded the SMEDA CEO that SME was the largest sector having a huge vote bank.

Copyright Business Recorder, 2023