LAHORE: The Small and Medium Enterprises Development Authority (Smeda) has initiated a series of consultative sessions with stakeholders for compiling recommendations for federal budget 2022/23, a statement said on Thursday.
After completing a session with the chambers of commerce and industry of the country, an online session with the trade and industrial associations was held at Smeda head office to solicit sector specific proposals.
Policy and Planning Division General Manager Nadia Jahangir Seth apprised the participants of the developments being made in the Small and Medium Enterprises (SME) sector through the recently launched National SME Policy 2021.
She also highlighted the significance of SME sector stakeholders’ input for developing recommendations for the budget. Next session of this series will be held with women chambers and women owned businesses on February 22, 2022.
The session was participated by the trade bodies representing various sectors including textile, readymade garments, leather, chemicals, fisheries, footwear, printing and text book board, gems and jewelry, furniture, mining, pharmaceutical, cutlery, light engineering, tea, and PVC pipe manufacturers.
During the session, participants recommended various measures for supporting SMEs including simplification of taxation procedures, relaxation of custom duties and tariffs for machinery and raw material, removal of tax anomalies and double taxation.
They also stressed for facilitation for improving SMEs’ access to finance, support to enhance SME’s access to local and international markets, infrastructure development, skill development and provision of testing facilities.