The government has intensified efforts to formalize and strengthen the small and medium enterprise (SME) sector, aiming to expand its contribution to Pakistan’s industrial growth and job creation. During its latest meeting held on Sunday, the Board of the Small and Medium Enterprises Development Authority (SMEDA) reviewed the progress of the ongoing SME formalisation initiative. The session, chaired by Haroon Akhtar Khan, Special Assistant to the Prime Minister (SAPM) on Industries and Production, also considered proposed amendments to the SMEDA Ordinance 2002 and deliberated on the appointment of a new Chief Executive Officer to lead the authority.
Haroon Akhtar Khan reaffirmed the government’s commitment to accelerating SME development, emphasizing that formalisation is key to unlocking financing opportunities, regulatory support, and business growth. He directed SMEDA to enhance its outreach by launching a nationwide awareness campaign to inform small business owners about incentives available for registered enterprises. The campaign is expected to highlight digital registration options through SMEDA’s online portal, making it easier for entrepreneurs to join the formal economy. He also underscored the importance of aligning SME policies with broader industrial reforms and said that long-term financing solutions for SMEs will be a major part of the upcoming Industrial Policy.
The SAPM revealed that a high-level committee led by the federal finance minister has been formed to design mechanisms that promote sustainable industrial financing across the country. This includes developing financial instruments that can better serve the needs of SMEs, which often face barriers in accessing traditional credit lines. By fostering collaboration between government agencies and private financial institutions, the initiative aims to create a more inclusive business environment and strengthen economic resilience through entrepreneurship.
During the meeting, SMEDA Chief Executive Officer Socrat Aman Rana shared that 13 amendments to the SMEDA Ordinance 2002 have been proposed to improve coordination among ministries and accelerate approvals for SME development programs. He also briefed the Board on SMEDA’s participation in key international forums, including the launch of the OIC SME Network (OIC-SMENET) in Baku, Azerbaijan, and Pakistan’s debut at BIOPROM-2025, a leading biotechnology and pharmaceutical trade fair held in Russia. These engagements are expected to help local SMEs connect with global partners, exchange expertise, and explore export opportunities in emerging industries.
The meeting was attended by senior officials and private sector representatives, including Saif Anjum, Secretary of the Ministry of Industries and Production; Masood Akhtar from FBR; and Board members Ms. Aasia Saail Khan, Dr. Syed Zahoor Hassan, Mr. Mashood Khan, and Mr. Osman Saifullah Khan. The discussions reflected a unified vision for building a more competitive SME ecosystem that supports innovation, job creation, and sustained economic growth.
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