PM for early finalisation of SME policy
ISLAMABAD: Prime Minister Imran Khan has termed the Small and Medium Enterprises (SMEs) the most crucial component of the national economy, and called for early finalisation of a proposed policy for the development of the SME sector.
Chairing a review meeting for the promotion of SMEs, the prime minister said the government was specially facilitating the sector, as it was neglected in the past.
Prime Minister Khan directed provision of incentives and loans under the government’s Ease of Doing Business policy.
The Industries and Production Division secretary briefed the meeting on the contours of the proposed SME policy. It was informed that the SMEs contributed 40 per cent to the country’s GDP and the sector was being extended tax relief.
The federal secretary also said the Federal Cabinet had already approved an action plan for the development of the SME 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 supervision of the State Bank of Pakistan.
The meeting was also informed that all the stakeholders have been consulted to remove all lacunae from the proposed policy.
Federal Finance and Revenue Minister Shaukat Tarin, Federal Minister for Industries and Production Khusro Bakhtiar, Adviser to the Prime Minister on Commerce Abdul Razak Dawood, Special Assistant to the Prime Minister Dr Shahbaz Gill, and senior officials attended the meeting.
State Bank Governor Reza Baqir joined via video-link.
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