Pakistan to boost industries like China: Industries and Production Minister

Islamabad: Pakistani Federal Minister for Industries and Production Makhdum Khusro Bakhtyar has said that Pakistan planned to boost industries like China for progress in the new era.

Chairing a partially virtual consultative meeting with Small and Medium-sized Enterprises (SMEs) stakeholders, the minister pointed out that China had made leaps in the industrialization which put them at a formidable position in the world.

The Meeting comprehensively ventilated questions, concerns and recommendations from stakeholders ahead of the government’s National SME policy.

The Chair was told that the national SME policy would encompass financial incentives and Guillotine regulatory simplification for SMEs countrywide.

Speaking on the occasion, Bakhtyar said that industrial development was a core priority of the incumbent government with prime focus on promoting SMEs particularly export-oriented enterprises of the country. He highlighted that the government was promoting the diversification and modernizing of its industrial base through the use of advanced technologies.

He also said that the new SME policy would provide framework to improve the macroeconomic and regulatory environment, access to finance, skills and human resource, infrastructure development, entrepreneurship, innovation and incubation, business development services and local & international market opportunities for small and medium enterprisers.

The minister apprised the forum that SME policy draft would be structured in tandem with access to financial and tax incentives for women-oriented businesses and female entrepreneurs to unlock potential of women’s participation in economy.

During the interaction, SME stakeholders lauded the efforts of the government for formulating a comprehensive policy as universally accepted by key players.

The participants also commended the current government for SME support package in tough time of Pandemic and hoped for holistic SME policy for promotion of micro businesses in the country.

Jawwad Raffique Malik, Secretary Industries and Production, along with senior officials of Ministry and Hashim Raza, Chief Executive Officer (CEO) Small and Medium Enterprises Development Authority (SMEDA) attended the meeting.