PAKISTAN
Special Assistant to the Prime Minister on Industries and Production, Haroon Akhtar Khan, unveiled the Prime Minister’s SME Development Vision during a media briefing at the Small and Medium Enterprises Development Authority (SMEDA) office on Friday. The announcement came ahead of the SMEDA Board of Directors’ scheduled meeting.
Khan was joined by Federal Secretary for Industries and Production, Saif Anjum, and SMEDA CEO Suqrat Aman Rana.
Outlining the vision, Khan stated that the Prime Minister views the small and medium enterprise (SME) sector as a cornerstone of economic growth and is committed to enabling Pakistani SMEs to compete on a global scale. To support this ambition, the government is engaging international SME experts to implement world-class development strategies tailored to Pakistan’s needs.
A detailed implementation plan is expected to be finalized during the SMEDA Board meeting later today. Khan emphasized that special focus is being placed on supporting youth, women-led enterprises, and informal businesses through SMEDA-led initiatives.
“These efforts include easier access to finance, training programs, business feasibility support, and tax incentives,” he said, adding that many of these measures will be reflected in the upcoming federal budget.
Khan also announced a major policy shift, revealing that the official definition of SMEs has been expanded to include micro-enterprises. Businesses with annual revenues below Rs. 30 million will now qualify for SME-specific benefits and support programs.
“There are millions of household businesses operating outside the formal economy. They are neither growing nor contributing significantly to national development,” he remarked. “The government will soon introduce incentives to bring these informal enterprises into the formal sector.”
Responding to a question on cryptocurrency policy, Khan disclosed that a globally recognized crypto expert has been appointed, and a formal policy framework is in the works.
He also highlighted government efforts to expand technical and vocational training institutions, aiming to equip the country’s youth with modern skills that align with global market demands. This, he said, would help develop a skilled workforce and enhance the competitiveness of Pakistan’s SME exports. — ENGINEERING REVIEW
