AGL 38.83 Decreased By ▼ -0.06 (-0.15%)
AIRLINK 143.40 Decreased By ▼ -2.00 (-1.38%)
BOP 5.24 Increased By ▲ 0.04 (0.77%)
CNERGY 3.72 Decreased By ▼ -0.06 (-1.59%)
DCL 7.58 Decreased By ▼ -0.09 (-1.17%)
DFML 46.40 Increased By ▲ 1.22 (2.7%)
DGKC 80.88 Increased By ▲ 1.75 (2.21%)
FCCL 27.42 Decreased By ▼ -0.58 (-2.07%)
FFBL 55.00 Increased By ▲ 1.67 (3.13%)
FFL 8.56 Decreased By ▼ -0.09 (-1.04%)
HUBC 111.02 Decreased By ▼ -10.80 (-8.87%)
HUMNL 11.42 Increased By ▲ 0.46 (4.2%)
KEL 3.77 Increased By ▲ 0.02 (0.53%)
KOSM 8.33 Increased By ▲ 0.01 (0.12%)
MLCF 35.20 Increased By ▲ 0.44 (1.27%)
NBP 61.35 Increased By ▲ 2.10 (3.54%)
OGDC 171.90 Increased By ▲ 2.68 (1.58%)
PAEL 25.78 Increased By ▲ 0.18 (0.7%)
PIBTL 5.97 Decreased By ▼ -0.02 (-0.33%)
PPL 127.55 Increased By ▲ 0.05 (0.04%)
PRL 25.58 Increased By ▲ 0.70 (2.81%)
PTC 12.15 Increased By ▲ 0.21 (1.76%)
SEARL 57.00 Increased By ▲ 1.47 (2.65%)
TELE 7.10 Increased By ▲ 0.03 (0.42%)
TOMCL 34.80 Decreased By ▼ -0.35 (-1%)
TPLP 6.95 Decreased By ▼ -0.05 (-0.71%)
TREET 13.85 Decreased By ▼ -0.04 (-0.29%)
TRG 47.05 Increased By ▲ 1.23 (2.68%)
UNITY 26.05 Decreased By ▼ -0.14 (-0.53%)
WTL 1.21 No Change ▼ 0.00 (0%)
BR100 9,094 Increased By 113.3 (1.26%)
BR30 27,318 Decreased By -101.9 (-0.37%)
KSE100 85,664 Increased By 753.7 (0.89%)
KSE30 27,441 Increased By 243.7 (0.9%)
Print Print 2024-08-24

PM forms steering body on Smeda

  • Expresses indignation at the inactivity of Small and Medium Enterprises Development Authority Board
Published August 24, 2024

ISLAMABAD: Prime Minister Shehbaz Sharif formed a steering committee regarding Small and Medium Enterprises Development Authority (Smeda) to be chaired by the premier himself.

The prime minister on Friday chaired a meeting regarding Smeda and stated that small and medium businesses were the backbone of the country’s economy.

The prime minister’s expressed indignation at the inactivity of Smeda Board and issued directive to immediately constitute the Board of Smeda.

PM directs bringing SMEDA under PMO

The boards of all such institutions which were very important for the country’s economy should be formed immediately, he further instructed.

The PM directed to take necessary steps for the immediate appointment of Smeda’s chief executive officer. He also directed to form a steering committee regarding Smeda which would be chaired by the prime minister himself.

People related to the private sector should also be included in the steering committee, he instructed.

The premier directed to promote sub-contracting in industries and stated that Pakistani industries needed to take strong steps to become part of the global supply chain.

The prime minister on Smeda was briefed that for the first time, a development fund had been set up for Smeda.

Smeda Development Fund of Rs30 billion has been allocated for six years, of which, Rs5 billion has been provided for the year 2024-25, the meeting was informed.

The meeting was told that there were currently 5.2 million small and medium enterprises in Pakistan, which accounted for 40 percent of the country’s GDP; 31 per cent of the country’s exports depended on SMEs.

Apart from non-agricultural employment, SME sector provides 72 per cent of employment: the meeting was informed that so far Rs491 billion had been provided in the form of bank credit for the SME sector, but bank credit for the SME sector needed to be taken up to Rs800 billion.

Copyright Business Recorder, 2024

Comments

Comments are closed.

KU Aug 24, 2024 10:54am
Surreal state of affairs, govt should look around the country n miseries of society, is everything normal? It requires economic emergency, privatization of SOEs, can they afford to play-act failure?
thumb_up Recommended (0)
M Anwar Khan Aug 24, 2024 11:33am
SMEs are buisness of the Prov Govts. They have their long standing Small Industry Corporations.They , inter alia, run indust estates and other tech& adv support insts.Beter put an end to SMEDA .
thumb_up Recommended (0)