LAHORE: In a significant move to strengthen the Small and Medium Enterprises (SMEs) sector, the Small and Medium Enterprises Development Authority (SMEDA) organized a pivotal policy dialogue at a local hotel. The event brought together key stakeholders and economic experts to strategize and enhance the growth of SMEs.

Dr Khaqan Hassan Naneeb, a Senior Economist and former Advisor to the Ministry of Finance in Pakistan, took the spotlight as the keynote speaker. He shared valuable insights on strategies to bolster the SME sector, emphasizing the need for a conducive on-the-ground environment.

Ms Nadia Jehangir Seth, General Manager of Policy and Planning at SMEDA, set the tone for the discussion and highlighted the importance of formulating SME-friendly policies. Socrat Aman Rana, General Manager of Central Support, and other senior members of SMEDA’s management team, actively engaged in the dialogue.

Participants underscored the necessity of reducing regulatory and financing obstacles to facilitate unhindered growth for SMEs. Despite a robust SME policy in place, concerns were raised about the lack of a supportive on-the-ground environment. Speakers advocated for favourable policy interventions aligned with global best practices.

Prior to the dialogue, Ms Nadia Jehangir Seth provided an overview of SMEDA’s initiatives aimed at SME development. She emphasized that the federal Ministry of Industries and Production had approved the Research, Regulatory Insight, and Advocacy Assistance (RRI&A) project to address research gaps in policy-making for SMEs, following SMEDA’s recommendation. The ongoing policy dialogue series is a crucial component of this initiative.

This initiative signals a commitment to fostering SME growth and addressing the challenges faced by the sector. The collaborative efforts of stakeholders and experts are poised to pave the way for a more robust and supportive environment for small and medium enterprises in Pakistan.

Copyright Business Recorder, 2024