ISLAMABAD: Prime Minister Imran Khan has instructed the relevant authorities to finalize the proposed small and medium enterprise SME policy in advance. Prime Minister Imran Khan issued the directive while chairing a review session on promoting business in the country. The session was placed by Finance Minister Shaukat Tarin, Khusro Bakhtiar, Abdul Razak Dawood, Shahbaz Gill, and other senior officials.
Meeting participants were informed of the proposed SME policy
The State Bank of Pakistan (SBP) Governor Dr. Reza Baqir attended the meeting via video link. However, Meeting participants were informed of the proposed SME policy. It was reported that SMEs contribute 40 percent of the national Gross Domestic Product (GDP), while the provincial government provides R436 billion in assistance to small and medium enterprises.
The small and medium enterprises were being given relaxation.
Small and medium enterprises were given tax breaks, and the state cabinet also approved the SME program. It has been declared that small and medium enterprises will be granted loans while the authorities will also be paying attention to businesses with information technology (IT). Prime Minister Imran Khan said SMEs were as important to the country’s economy as they had completely ignored in the past. He added that the Federal government is concentrating on providing services to small businesses. He also instructed the relevant authorities to finalize the proposed SME policy in the first instance.
Chairman of a conference to review the promotion of small and medium organizations in Islamabad on Monday, the Prime Minister stated small industries were ignored in the past. At the same time, our authorities centered on offering facilities to them. The assembly was informed that small and medium companies account for 40 percent of Pakistan’s total GDP.
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