Business
'Neglected' SMEs sector gets PM Imran's attention; early finalization of policy stressed
Islamabad: Realizing the Small and Medium Enterprises (SMEs) the most crucial component of national economy, Prime Minister Imran Khan ordered early finalization of a proposed policy for the sector’s uplift.
Chairing a review meeting for promotion of SMEs, he said the incumbent government was specially facilitating the sector as it was "neglected in the past".
The primier instructed for provision of incentives and loans under the government’s ease of doing business policy.
The Secretary Industries and Production Division briefed the meeting on the contours of the proposed SMEs policy, saying the SMEs contributed to 40% of country’s GDP and that the sector was being extended tax relief.
The federal secretary further told the meeting that the federal cabinet had already approved an action plan for uplift of the SMEs sector. The SMEs linked with the IT sector were being given special incentives, he added
"Moreover, the SMEs would also be given loans under the State Bank’s supervision."
The meeting was told that all stakeholders had been consulted to remove all lacunae from the proposed SMEs policy.
Federal ministers Shaukat Fayaz Tarin and Khusro Bakhtiar, Commerce Advisor Abdul Razzak Dawood, Special Assistant to PM Dr Shahbaz Gill, and senior officials attended the meeting. State Bank Governor Raza Baqir joined the meeting via video link.