ISLAMABAD ( wnam report): Minister for Planning, Development and Special Initiatives (PD&SI) Ahsan Iqbal on Thursday chaired a high-level meeting to discuss the implementation of the prime minister’s directives for conducting surveys on Small and Medium Enterprises (SMEs) aimed at providing base to evidence-based decision making and policy formulation.
“The surveys on SMEs will be conducted by Pakistan Bureau of Statistics to determine market size and for formulation of well-informed policy for development of SME sector”.
Among others, the meeting was attended by key stakeholders, including the Secretary Industries and Production, Chairman NADRA, CEO SMEDA and Chief Statistician and Member (Support Service) of Pakistan Bureau of Statistics as well other senior officers.
The Chief Statistician gave a presentation on the strategy to conduct 13 surveys on the prioritize sector of SMEs pursuant to the PM directives.
The policy formulation and informed decision making as well required Interventions for promoting SME growth based on the surveys’ results would provide basis for economic growth, youth employment opportunities and exports by promoting SMEs.
Ahsan Iqbal emphasized that SMEs prioritized sectors must be those potential industries which could significantly contribute exports aligned with the vision envisaged in Uraan Pakistan Program.
Furthermore, he advised SMEDA to develop a mechanism in consultation with provincial governments, to register all businesses activities in the country through district administration and update the register on a regular basis.
He also advised SMEDA to devise a framework in consultation with SBP that each bank will open dedicated credit window for export oriented SMEs.
The surveys on SMEs would be conducted by utilizing the information of Economic Frame on which information collected by Pakistan Bureau of Statistics (PBS) during the 7th Population and Housing Census, 1st ever Digital Census. The economic frame as well as data from other sources will be utilized to ensure better coverage and true representativeness of the surveys.
The minister advised to focus on important aspect of SMEs especially the export. The important sectors of SMEs on which surveys would be conducted are Small and Medium Manufacturing Enterprises, Marine as well as Freshwater Fishing and
Aquaculture, Poultry Farms, Software Development Activities, Human Health and Social Work activities, Education, Accommodation and Food Service Activities and Wholesale and Retail Trade etc.
Ahsan Iqbal emphasized that small and medium enterprises (SMEs) have the potential to contribute 40 per cent to 60 per cent to exports if provided with adequate banking support. This includes enhancing trade financing facilities, offering more accessible credit options, and developing innovative banking solutions to address the unique challenges faced by smaller industries in the export sector.
The meeting demonstrated the government’s commitment to promote economic growth, youth employment, and SME development to boost exports for prosperous nation. The chair emphasized the need for effective collaboration among stakeholders for achieve these goals.
