ISLAMABAD: Prime Minister Imran Khan indicated that all of the country’s economic performance is on a positive trajectory; however, strengthening SMEs is absolutely essential to achieve further improvement.
He said while chairing a meeting of the National Coordinating Committee (NCC) on SMEs that small businesses are an important component of the country and that strengthening them will not only spur the economy but also create jobs.
Board of Investment chairman, Federal board of revenue chairman, Federal ministers Usman Dar, Hammad Azhar, Abdul Hafeez Shaikh, Federal secretaries of law, petroleum, finance, commerce, energy, and industries, State Bank of Pakistan(SBP), Public Procurement Regulatory Authority (PPRA) managing director, SMEDA CEO, Exchange commission of Pakistan (SECP) commissioner, and other related officers also attended the meeting
During the meeting, PM Imran Khan was informed that the database for small and medium enterprises has been updated as a matter of priority, and the tax model for small and medium enterprises has been simplified. Furthermore, consultations are already underway with all stakeholders on the provision of financial support to SMEs. A fund will be created for this in the near future.
The Prime Minister was also informed about the restructuring of the Small and Medium Enterprise Development Authority (SMEDA) in order to increase its capacity.
