SME policy framework discussed

LAHORE: Senator Nauman Wazir appreciated Small and Medium Enterprises Development Authority (Smeda) for developing new SME policy framework by obtaining inputs from all public and private stakeholders during the formulation process.

He was chairing the first meeting of the National Steering Committee for revision of SME Policy with Ministry of Industries and Production Secretary Azhar Ali Chaudhry.

Chaudhry said that SMEs having a pervasive presence across most economic sectors are an integral part of the government’s economic development strategy. “Right policy and institutional focus is imperative to make Pakistani SMEs competitive in the international markets, and fulfil the multiple agenda of employment creation, new enterprise development, increased exports, and enhanced contribution to value-addition.” Smeda CEO Sher Ayub Khan focused on entrepreneurship development to lift the pressure off the job market, and highlighted that most of the graduating students and individuals were job seekers rather than job creators. “The policy will include measures to train and facilitate aspiring entrepreneurs in transforming their innovative business ideas, and support existing SMEs to promote the emergence of start-ups in the country,” he informed.