AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Islamabad: A recent high-level meeting chaired by the Minister for Planning, Development and Special Initiatives (PD and SI) underscored the potential of small and medium enterprises (SMEs) to significantly enhance Pakistan’s export capacity, potentially contributing up to 60% with adequate banking support.
According to a statement by Press Information Department, the meeting focused on implementing the Prime Minister’s directives to conduct comprehensive surveys on SMEs. The Pakistan Bureau of Statistics is set to perform these surveys to determine market size and inform policies for SME development.
Key attendees included the Secretary Industries and Production, Chairman NADRA, CEO of SMEDA, and senior officers from the Pakistan Bureau of Statistics. The Chief Statistician presented a strategy to conduct 13 surveys on prioritized SME sectors as directed by the Prime Minister.
The discussions highlighted the importance of aligning SME growth with the URAAN Pakistan Program’s vision. The minister stressed the need for SMEs to target sectors with high export potential, such as manufacturing, aquaculture, software development, and more.
The meeting also emphasized the necessity for SMEDA to create a mechanism in collaboration with provincial governments to register business activities nationwide. Additionally, it was advised that a framework be developed for banks to open dedicated credit facilities for export-oriented SMEs.
The surveys will utilize data from the 7th Population and Housing Census, Pakistan’s first digital census, ensuring accurate and comprehensive coverage. This initiative aims to support evidence-based decision-making and policy formulation for SME growth.
The Federal Minister highlighted the critical role of banking support in enhancing SMEs’ export capabilities, advocating for improved trade financing and innovative banking solutions tailored to SMEs’ needs. The meeting reflected the government’s commitment to fostering economic growth, youth employment, and SME development as a pathway to national prosperity.
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