SME Policy likely by end of next month

The Federal Secretary for Industries, Production and Special Initiatives, Suleman Ghani, has said that the government is finalising SME Policy which would be in place by the end of September. While addressing the LCCI members here on Saturday Suleman said that involvement of all the stakeholders, including all the chambers of the country would be ensured in the upcoming SME Policy.
LCCI Acting President Sohail Lashari, Vice President Sheikh Mohammad Arshad also spoke on the occasion. LCCI former President Mian Anjum Nisar, Executive Committee Members Nauman Kabir, Sheikh Mohammad Younas, Faisal Iqbal Sheikh, Yousaf Shah, former EC member Mubashar Sheikh and Tahir Javed Malik also attended the meeting.
The Secretary Industries said that the proposed SME policy would contain Competitive Support Fund for Small and Medium Enterprises, which would be much-needed positive development in the real sense.
He spoke on different issues at length and apprised the LCCI office-bearers of the initiatives taken by the ministry to facilitate the businessmen.
To a question raised by the LCCI Acting President Sohail Lashari pertaining to 0.1 percent Withholding Tax on withdrawals of cheques exceeding Rs 25,000, the Secretary Industries promised to review the issue within a couple of weeks.
He informed the House that he had already held a meeting with the Governor State Bank and he would again meet him to get the issue solved as early as possible. He said that the government is going to reorganise a number of departments including Engineering Development Board (EDB) and EPZA for infrastructure improvements.
Earlier Sohail Lashari apprised the Federal Secretary about the problems being faced by the business community.
At this juncture of history, when China and India are taking over from Korea and Japan in market evaluation in terms of growth, productivity and export potential, and Pakistan is opening up its borders to comply with the WTO regime the biggest challenge before the policy makers and the business community is how to keep the momentum of growth.
He proposed that all raw materials not produced locally should be placed at zero to 5-percent rate of duty to make these industries viable.
Sheikh Mohammad Arshad drew attention of Suleman Ghani towards poor law and order situation, which continues to be the imminent threat to the growth of the economy. He proposed that a Special Desk in the name of "Businessmen-Police Liaison Desk" should be established in LCCI to take up the problems of business community with regard to the Police Department.