Govt sets four-week deadline for SMEDA restructuring

Reforms aim to expand financing and business support for SMEs, particularly women entrepreneurs and businesses in rural areas The federal government has directed a committee to prepare a comprehensive restructuring plan for the Small and Medium Enterprises Development Authority (SMEDA) within four weeks, aimed at expanding access to finance and business support for small enterprises across Pakistan. The decision was discussed at a meeting of the Prime Minister's Committee on SMEDA Reorganisation, chaired by Adviser to the Prime Minister on Industries and Production Haroon Akhtar Khan on Tuesday. According to the adviser, the Ministry of Industries and Production has included members of the SMEDA Board in the committee on Prime Minister Shehbaz Sharif's directions to ensure institutional participation in the reform process. The committee will examine international best practices and institutional models to develop proposals for improving SMEDA's performance, service delivery and nationwide outreach. Haroon Akhtar said the restructuring would focus on extending financial assistance, business advisory services and institutional support to micro, small and medium enterprises, particularly women entrepreneurs and businesses in rural and underserved areas. He said the government wanted SMEDA to expand its operations beyond major urban centres and improve access to services for entrepreneurs at the grassroots level. The adviser noted that small and medium enterprises account for approximately 99% of Pakistan's business enterprises and contribute around 78% of employment. He emphasised the need to strengthen support for entrepreneurship, improve access to financing and encourage business development to generate employment and expand economic opportunities. The meeting was attended by Minister of State for Finance and Railways Bilal Azhar Kiyani, senior officials from the ministries of industries and commerce, SMEDA Board members and the authority's Chief Executive Officer Nadia J Seth. The committee will submit its proposed restructuring plan to the Prime Minister's Office within four weeks.