Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar on Saturday held a meeting with representatives of the Sialkot Small and Medium Enterprise (SME) Cluster and discussed challenges facing micro, small, and medium enterprises.
\nThe meeting was attended by the Additional Secretary for Industries and Production Mr. Asad Islam Mahni, the Acting CEO of SMEDA Nadia J Seth, and representatives of the Sialkot Chamber of Commerce and Industry, said a news release.
\nDuring the meeting, participants discussed in detail the major challenges faced by micro, small, and medium enterprises, which SAPM Haroon described as \u201cthe engine of Pakistan\u2019s economy.\u201d
\nRepresentatives from medium-sized enterprises called for a shift from the normal tax regime to a fixed tax regime, citing the need for a simpler and more predictable taxation framework.
\nThe Sialkot SME delegation highlighted high electricity prices and limited banking support as major obstacles to business growth. They also raised concerns from the surgical instruments industry, noting that the absence of an accreditation laboratory was severely affecting Pakistan\u2019s exports. \u201cNon-accredited surgical instruments are not accepted in global markets,\u201d industry representatives stressed.
\nSAPM informed the participants that the government is actively working on introducing a fixed tax regime for SMEs. He also announced a new incentive package based on electricity consumption, under which electricity tariffs will decrease as industrial units consume more units.
\nTo address the surgical industry\u2019s concerns, SAPM directed SMEDA and the Trade Development Authority of Pakistan (TDAP) to jointly develop a strategy for establishing proper accreditation. He further emphasized upgrading existing laboratories to meet international certification standards.
\nHaroon noted that Sialkot\u2019s SMEs possess export potential worth billions of dollars, but their growth is hindered by difficulties in obtaining lines of credit from banks. He issued instructions to SMEDA and the State Bank of Pakistan to resolve these credit access issues on a priority basis.
\nHighlighting SMEDA\u2019s vital role in national economic development, he stated that SMEs must be transformed into dollar-generating enterprises. SAPM Haroon Akhtar directed SMEDA to prepare a comprehensive plan and present concrete results in the upcoming review meeting.<\/p>\n","protected":false},"excerpt":{"rendered":"
Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar on Saturday held a meeting with representatives of the Sialkot Small and Medium Enterprise (SME) Cluster and discussed challenges facing micro, small, and medium enterprises. The meeting was attended by the Additional Secretary for Industries and Production Mr. Asad Islam Mahni, the […]<\/p>\n","protected":false},"author":2,"featured_media":472630,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-518487","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n