PM forms body to facilitate small businesses

Published August 13, 2020
The premier expressed satisfaction over incentives being availed by investors and builders in construction industry. — Photo courtesy Imran Khan FB page
The premier expressed satisfaction over incentives being availed by investors and builders in construction industry. — Photo courtesy Imran Khan FB page

ISLAMABAD: Prime Minister Imran Khan on Wednesday formed a National Coordination Committee (NCC) on Small & Medium Enterprises (SMEs) development to generate economic activities.

The NCC will coordinate and facilitate overall development and promotion of SMEs in the country.

It will also recommend policy, legal and regulatory measures to generate and sustain economic activity, employment generation and poverty alleviation.

Minister for Industries and Production Hammad Azhar will convene the NCC while the members include secretaries of industry and production, commerce, finance, power, petroleum and law divisions. All provincial chief secretaries or their representatives, Federal Board of Revenue chairman, Securities & Exchange Commission of Pakistan chairman, Small and Medium Enterprises Development Authority chief executive, Trade Development Authority of Pakistan chief executive and State Bank of Pakistan deputy governor.

In order to ensure adequate representation from SMEs sectors, one representative each from all provinces and key SMEs sectors have also been included as members the of NCC. In addition, NCC convener can also co-opt any other person from private and public sector as a member.

According to the Prime Minister’s Office, the NCC has been initially tasked to review and finalise draft SME policy within two weeks. The policy will focus on defining the scope of SMEs, fiscal and monetary incentives required for SMEs growth. It will also suggest measures to address market access and capacity issues and will identify issues faced by SMEs in acquiring credits.

To remove legal obstacles, the NCC will propose legislative and regulatory amendments to enhance ease-of-doing business and reducing regulatory burden on SMEs.

The committee will also act as focal point for inter-provincial, inter-ministerial, inter-departmental and inter-agency coordination so that policy implementation for SMEs is facilitated in a smooth and synchronised manner.

The premier also directed the NCC to come up with time-bond deliverables and a weekly reports on progress.

In another meeting, he expressed satisfaction over incentives being availed by investors and builders in construction industry.

He said that facilitating small investors in construction and other business was top-most priority of the government.

Internet facility: In a separate meeting on spectrum auction, the premier directed authorities concerned to improve mobile phone and internet services in far flung and remote areas of the country.

“Enhancement and improvement of mobile and internet facilities was in the best interest of the country,” he added.

Expressing satisfaction over interest shown by some companies in auction of spectrum, he directed that the process of auction should be fast and transparent.

Published in Dawn, August 13th, 2020

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