LAHORE: Rana Tanveer Hussain, Federal Minister Industries and Production has initiated a process to enhance coordination with the provincial governments for equitable development of the SMEs across the country as per advice of Prime Minister Shehbaz Sharif.

In this regard, he held a meeting at PCOM Saturday with the Punjab Government’s Industries department, which was attended by Ehsan Bhutta, Secretary Industries Punjab and Saira Umar, Managing Director PSIC from the Punjab government.

The minister was accompanied by Saif Anjum, Federal Secretary Industries and Production and Socrat Aman Rana, Chief Executive Officer of SMEDA.

Federal minister said that that Small and Medium Enterprises (SMEs) play a crucial role in the economy of any country, contributing significantly to employment generation, economic growth, innovation, and social stability. SMEs are essential drivers of economic development, job creation, innovation, and social progress. They have momentous role in economic development of the country. Small businesses can play a key role in shaping the national growth strategy, he said adding the development and progress of Small Medium Enterprises are top priority of the current government. The government is determined to maintain equitable development of SMEs in all provinces of the country that is why a coordination process has been initiated with provinces on direction of the PM, he said and assured that the government will facilitate and incentivize SMEs to achieve optimal economic growth in the country. He informed that such coordination meetings would also be held with other province on regular basis to maintain a conducive support mechanism for SMEs across the country.

The minister further said that improving small and medium enterprises (SMEs) in Pakistan requires a comprehensive approach addressing various aspects ranging from regulatory frameworks to access to finance and technology. The Federal Government will immediately take all necessary steps to facilitate SMEs for economic uplift of the people. We shall implement structural reforms such as streamlining regulations and taxes for small and medium-sized enterprises (SMEs) to promote growth and job creation, he said.

Copyright Business Recorder, 2024