Engineering Post Report
Small and Medium Enterprises (SMEs) play a key role in shaping national growth strategies, employment generation and improving standard of living of the vulnerable segments of the society.
There is no denying the fact that SMEs are the backbone of the national economy but somehow lack adequate resources to adopt new technologies and improve their production based on latest developments.
Duly realizing the importance of the SMEs and for providing much-needed impetus to SME sector and enhancing its competitiveness, the Federal Government is developing National SME Policy 2019 which will serve as Pakistan Government’s master plan for providing support to catalyze growth of this quite important sector.
The focus of the policy, so being formulated, according to the information available from official quarters concerned, as such is being laid on job creation, export enhancement and increased contribution of the SMEs in the development and strengthening of the national economy.
The policy will address core SME development issues including access to financial resources, business development services like human resources development, technology marketing, market access, standards and certifications etc , simplification and rationalization of taxation regime and reduction in cost of doing business.
Alongside, a cohesive strategic framework for business facilitation across the public sector institutional infrastructure , both at the federal and provincial levels, will also be developed for ensuring efficient, effective and result-oriented implementation of the policy under the principle of easing doing business.
For formulation of the National Policy, a participatory process has already been adopted to identify real challenges faced bt SME sector which will be coupled with an effective strategy to adequately address them.
In this regard, focus group discussions, workshops and consultative sessions have already been held nationwide in Lahore, Islamabad, Multan, Peshawar, Swat, Sialkot, Gujranwala, Gujrat and elsewhere during last few months.
Eminent researchers, representatives of Chambers of Commerce and Industry , trade bodies and associations and academia are also actively involved in the Policy Making Committee to provide necessary guidance in the policy formulation process.
The first meeting of the Steering Committee for National SME Policy was held in December 2018. The draft policy is most likely to be submitted for consideration and approval of the federal cabinet and its subsequent implementation at the national and provincial levels by the federal and provincial governments within next couple of months before the year 2019 rolls out.
