ISLAMABAD: Commerce Adviser Abdul Razak Dawood on Tuesday said the government is focusing on boosting exports through tariff rationalisation to attrac investment.
Undertaking institutional reforms, documentation of economy and easing of doing business regulations was the priority of the incumbent government, he said while meeting with the delegation of the business community.
Dawood said that “We are committed for introducing business reforms in Pakistan to boost its industrial and commercial potential, said a press release issued by Ministry of Commerce.”
Small and Medium Enterprises (SME) Policy 2019 focuses on three most important aspects in development of SMEs including access to credit, access to technology and access to markets, he added.
Adviser said the growth in SMEs is essential as it generates employment in the country and meaningful structural reforms in Small and Medium Enterprises Development Authority (Smeda) are also being undertaken.
In order to streamline this sector, he said documentation of these businesses will provide lot of benefits including increment in access to credit, Razak said.
He said the cost of doing business is also a key factor in performance of SMEs in the country.
The adviser said that according to the World Bank report, Pakistan has advanced 11 places to 136th place on the ease of doing business global ranking.
This year, the ranking is expected to improve further.
Published in Dawn, August 21st, 2019