ISLAMABAD: Prime Minister Shehbaz Sharif on Monday underscored the need to promote and register cottage and small and medium enterprises (SMEs) to enhance industrial growth and enable businesses to access financial support.
Chairing a review meeting on the restructuring of the Small and Medium Enterprises Development Authority (SMEDA) and SME development, the prime minister directed authorities to set a clear implementation timeline for SMEDA’s roadmap to ensure its timely execution.
He emphasized that the development of cottage SMEs was crucial for sustainable industrial growth, as seen in developed economies where small enterprises supply raw materials to larger industries.
The prime minister also instructed relevant ministries to launch training programs in rural areas to support the processing of agricultural commodities and strengthen rural entrepreneurship.
Shehbaz Sharif appreciated the Ministry of Industries and Production’s efforts in SMEDA’s restructuring and initiatives to promote SME development, particularly those aimed at empowering women entrepreneurs.
During the briefing, officials informed that SMEDA offices had been set up in Azad Jammu and Kashmir and Gilgit-Baltistan, receiving positive feedback from the public and business chambers. A new SMEDA board comprising private-sector experts has also been formed, and the appointment of a Chief Executive Officer is expected soon.
It was further shared that notable progress has been achieved in SME capacity building, financing, and collaboration following the directives of the Steering Committee. Additionally, an **AI-powered Womenpreneurship Platform** is being developed to assist women in business registration, tax management, and skill enhancement.
A comprehensive roadmap for integrating SMEs into the formal economy was also presented during the meeting, which was attended by federal ministers Ahad Khan Cheema, Dr. Musadik Malik, Attaullah Tarar, Special Assistant Haroon Akhtar, and senior officials.
