• Board reviewed SME formalisation initiative and proposed amendments to Smeda Ordinance 2002
• SAPM emphasised rapid SME development, sustainable industrial growth, and job creation

ISLAMABAD: The Board of the Small and Medium Enterprises Development Authority (SMEDA) reviewed the formalisation initiative for small and medium enterprises during its meeting held here on Sunday.

The meeting, chaired by Haroon Akhtar Khan, Special Assistant to the Prime Minister (SAPM) on Industries and Production, also discussed the proposed amendments to the SMEDA Ordinance 2002 and the appointment process for the new Chief Executive Officer.

While addressing the Board, Mr. Haroon reiterated the prime minister’s strong commitment to the rapid development of the SME sector, emphasising Smeda’s pivotal role in driving sustainable industrial growth and employment generation.

He advised SMEDA to launch a nationwide awareness campaign highlighting government incentives for registered SMEs and urged acceleration of efforts to bring more enterprises into the formal sector through Smeda’s SME Registration Portal.

The SAPM further underscored the importance of long-term financing for SMEs, noting that it has been made a key component of the forthcoming Industrial Policy. He added that a high-level committee headed by the federal finance minister has been constituted to promote long-term industrial financing mechanisms.

SMEDA Chief Executive Officer Socrat Aman Rana informed the Board that 13 amendments have been proposed to the Smeda Ordinance 2002 to streamline inter-ministerial coordination and ensure swift approvals of SME development incentives from other divisions. He also briefed the Board on Smeda’s successful participation in the launch of the OIC SME Network (OIC-SMENET) held in Baku, Azerbaijan, and Pakistan’s debut participation at BIOPROM-2025, Russia’s leading biotechnology and pharmaceutical trade fair.

The meeting was attended by Saif Anjum, Secretary, Ministry of Industries and Production; Masood Akhtar, Chief (Law & Clarification), FBR; Ms Iffat Malik, Joint Secretary (Expenditure), Ministry of Finance; and Muhammad Ashraf, Executive Director General, Ministry of Commerce. Private sector members Ms. Aasia Saail Khan, Dr. Syed Zahoor Hassan, Mr Mashood Khan, and Mr Osman Saifullah Khan also participated.

Published in Dawn, October 13th, 2025