Prime Minister Imran Khan views small and medium enterprises (SMEs) as a key aspect of the nation’s economy. While chairing a meeting of National Coordination Committee (NCC) on Thursday, he emphasized the promotion of SMEs in order to create more employment opportunities and improve financial conditions.
“The SMEs is a key constituent of the economy and its empowerment would help strengthen the economic outlook and create job opportunities,” the premier stressed during the meeting.
He observed that Pakistan’s economy was on the right track, as all economic indicators were on a positive trajectory. He proceeded to direct concerned authorities to achieve the targets set for the promotion of the SMEs.
The meeting revealed that the government was in consultation with all the relevant stakeholders to extend financial support to SMEs. A special fund will also be created in this regard.
It was noted that targets had been set to address legal, administrative and regulatory issues for the betterment of SMEs sector and that restructuring of Small and Medium Enterprises Development Authority (SMEDA) was in progress to facilitate the business sector.
It was maintained over the course of the meeting that the procedure to file tax returns for SMEs was being simplified and further work was being carried out on the registration portal for SMEs.
Meanwhile, a separate meeting of the NCC on housing, construction, and development was also held, in which PM Imran Khan praised commercial banks for extending support to promote the construction sector. He stated that for the first time in the nation’s history, financial institutions were giving loans to the poor, and that this was a welcome development.
“Promotion of construction sector and providing shelter to the poor is a national service,” the premier said.