SMEs to be allotted land on rental lease inside CPEC SEZs: Industries Minister
Gwadar Pro
Islamabad: Federal Minister for Industries and Production Makhdum Khusro Bakhtyar has said that Small and Medium-sized Enterprises (SMEs) will be allotted land on rental lease inside the Special Economic Zones (SEZs) of the China-Pakistan Economic Corridor (CPEC).
“The MoIP (Ministry of Industries and Production) would allot land to SMEs on rental lease model in CPEC SEZs,” he told a review meeting on National Coordination Committee on SME Development here. The forum comprehensively deliberated upon the framework of proposed National SME policy.
The minister was briefed about the prominent features entailing financial incentives, fiscal incentives, SME registration portal, formation of common facility centers and warehouses and regulatory simplification for SMEs countrywide.
In his remarks, the minister said that the development of SMEs is imperative for sustainable economic growth in the country.
He maintained that the incumbent government is working on a comprehensive policy for cross sectoral development of SMEs particularly export-oriented businesses in the country.
The minister highlighted that the government is focusing on enhancement of credit financing to tax filer SMEs as well as increasing credit limit to collateral asset owning enterprises for expansion of existing business.
Bakhtyar said that new policy would focus on enlargement of bandwidth of micro-financing and the venture investment for SMEs with help of international donors.
The minister noted that proposed SME policy would outline incentives for women-oriented businesses thus reducing gender gap in financial inclusion and mainstreaming the role of women in the economy.
He called for specialised lending scheme for garment sector and Information Technology enabled services within purview of SME policy.
At the conclusion of meeting, the Minister directed relevant Provincial departments and Small and Medium Enterprises Development Authority (SMEDA) to finalize the new SME policy according to the Prime Minister Imran Khan’s vision to promote cross-sectoral small business across the country.
