Govt working to promote small, medium businesses: PM
ISLAMABAD: Prime Minister Shehbaz Sharif has emphasized that the government is prioritizing the promotion of small and medium-sized enterprises (SMEs).
He made these remarks while chairing a steering committee meeting of the Small and Medium Enterprises Development Authority (SMEDA) in Islamabad.Businesses, star ups to have direct access to Google Cloud
The Prime Minister instructed SMEDA to hire skilled personnel from the market and ensure transparency in the recruitment process, ensuring an internationally competitive workforce with salaries aligned with market standards. He also stressed the importance of providing professional training to the workforce in the SME sector. He acknowledged SMEDA’s crucial role in strengthening the rural economy and directed the creation of a plan to expand SMEDA’s interest-free loan program to all rural communities, including women.
Furthermore, the Prime Minister directed that all vocational training institutions at the federal level be merged into one unified body.
During the meeting, it was reported that under the Prime Minister’s directive, micro-enterprises have been integrated into the SME sector, and a comprehensive policy is being developed in this regard. Additionally, it was shared that private sector representation on the SMEDA board is being increased.
The meeting also highlighted that strategies are being formulated to equip SMEDA’s workforce with modern skills training and advanced technology.
The Ministry of Commerce and SMEDA are collaborating to identify potential companies for export, and a robust performance management framework will be established within SMEDA.
The briefing further emphasized that SMEDA has organized 28 seminars and training programs for the SME sector, with 953 participants. A new financial literacy program for the SME sector is being launched, and experts have already been recruited for this initiative. Additionally, an export assistance program is being introduced to support SME exports. A legal framework for subcontracting within the SME sector is also under development, and recruitment for this process will begin soon.
