SMEDA approves 2024-27 business development plan

LAHORE: The Small and Medium Enterprises Development Authority (SMEDA) Board has approved the SMEDA Business Plan 2024-27, developed in line with directives from the prime minister of Pakistan.

During the meeting, CEO of SMEDA Socrat Aman Rana provided a detailed presentation on the plan’s key features to board members, with Federal Minister for Industries and Production Rana Tanveer Hussain chairing the session. Rana explained that the plan focuses on five core objectives: boosting exports, enhancing access to finance, promoting subcontracting, fostering women’s development, and building climate resilience.

Rana outlined several initiatives aimed at supporting SMEs in integrating into global value chains, improving their export capacities, increasing their bankability for better financial access, and encouraging subcontracting to strengthen their role in the global supply chain. The plan also includes measures to protect SMEs from the effects of climate change, which, he noted, would enhance their capacity to adapt to environmental challenges.

The meeting was attended by six ex-officio members from the government and four members from the private sector. Government representatives included Federal Minister for Industries and Production Rana Tanveer Hussain (Chairman), Federal Secretary for Industries and Production Saif Anjum, Senior Joint Secretary of the Ministry of Finance Munir Ahmed, Chief of Income Tax Policy Aizaz Hussain, Special Secretary of Commerce Shakeel Ahmed Mangnejo, and SMEDA CEO Socrat Aman Rana. Private-sector members included Bushra Malik, Muhammad Yousaf Sarwar, Alamgir Durrani and Aania Alam.