Government launches initiative to enhance provincial coordination

LAHORE: Minister for Industries and Production Rana Tanveer Hussain has initiated a process to enhance coordination with provincial governments for equitable development of small and medium enterprises (SMEs) across the country, following the guidance of Prime Minister Shehbaz Sharif.

In this regard, he held a meeting on Saturday at PCOM with the Punjab government’s industries department, attended by Secretary of Industries Punjab Ehsan Bhutta and Managing Director of the PSIC Saira Umar, among others. The minister was accompanied by Federal Secretary of Industries and Production Saif Anjum and Chief Executive Officer of SMEDA Socrat Aman Rana, along with other senior officials, including GM SMEDA Saleha Saeed and Nadia Jehangir Seth.

During the meeting, he said that SMEs play a crucial role in the economy of any country, significantly contributing to employment generation, economic growth, innovation and social stability. SMEs are essential drivers of economic development, job creation and social progress. He noted that small businesses can play a key role in shaping the national growth strategy, adding that the development and progress of SMEs is a top priority for the current government.

The government is determined to ensure equitable development of SMEs across all provinces, which is why a coordination process has been initiated at the direction of the prime minister. He assured that the government will facilitate and incentivize SMEs to achieve optimal economic growth in the country. He informed attendees that similar coordination meetings would also be held with other provinces on a regular basis to maintain a supportive mechanism for SMEs nationwide.

The minister added that improving SMEs in Pakistan requires a comprehensive approach that addresses various aspects, including regulatory frameworks, access to finance and technology. The government will take immediate steps to facilitate SMEs for the economic uplift of the people. He pledged to implement structural reforms, such as streamlining regulations and taxes for SMEs, to promote growth and job creation.