PM orders constitution of SMEDA, other institutions’ boards
1. Prime Minister Shehbaz Sharif on Friday chaired a meeting on matters related to the Small and Medium Enterprises Development Authority, emphasizing the crucial role of SMEs in Pakistan’s economy.
Prime Minister Shehbaz Sharif chaired a meeting on Friday to discuss matters related to the Small and Medium Enterprises Development Authority (SMEDA), underscoring the vital role that SMEs play in Pakistan's economy.
He described small and medium enterprises as the backbone of the nation's economy and expressed disappointment over the inactivity of the SMEDA Board. The prime minister directed its immediate reconstitution, emphasizing the need for all boards of institutions crucial to the economy to be established without delay.
He also stressed the importance of promoting sub-contracting in industries and taking all necessary measures to integrate Pakistani industries into the global supply chain. Additionally, the prime minister instructed the relevant authorities to expedite the appointment of SMEDA’s Chief Executive Officer and to include private sector representatives in the steering committee.
During the briefing, it was revealed that the SMEDA Development Fund had been launched for the first time, with an allocation of Rs 30 billion over six years. Of this amount, Rs 5 billion has already been provided for the fiscal year 2024-25.
