World Experts To Be Engaged To Modernise SME Sector: Haroon Akhtar

LAHORE, (UrduPoint / Pakistan Point News - 3rd May, 2025) Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan said on Saturday small and medium enterprises (SMEs) are the backbone of Pakistan’s economy and a key driver of export growth.

In line with the prime minister’s vision, international experts will be engaged to modernise the SME sector to meet global standards.

He made these remarks while addressing the media at the Small and Medium Enterprises Development Authority (SMEDA) offices here. Federal Secretary for Industries and Production Saif Anjum and Chief Executive Officer (CEO) Socrates Aman Rana were also present.

Haroon highlighted SMEDA’s ongoing initiatives aimed at the economic empowerment of women, including subsidised loans, microfinancing, and modern technical training. He stated that women’s economic inclusion is a top government priority. To that end, a comprehensive entrepreneurship policy has been drafted and will be implemented following cabinet approval. This policy, he said, will be a game changer for women’s economic development.

He noted that SMEDA’s Women Entrepreneurship Development Department is actively supporting women entrepreneurs across the country by providing guidance and necessary facilities. On industrial development, the special assistant said that existing industrial clusters across the country will be identified and developed in an integrated manner.

Additionally, the government is preparing a strategy to bring undocumented industrial units into the formal economy. The upcoming federal budget will also include concrete measures to boost SME growth.

To combat corruption, Haroon Akhtar Khan shared that a comprehensive policy is being prepared, focusing on institutional reforms and the engagement of expert consultants to ensure transparency.

Speaking about youth training, he said skill development programs are being run in collaboration with TEVTA and NUTIC, with additional projects under consideration to enhance the skilled workforce.

He also noted that industries facing high tariffs in the U.S. might relocate to Pakistan, potentially spurring significant industrial growth and job creation.

Finally, he pointed out that 84% of Pakistan's labor force operates in the informal sector—an issue the government is addressing through the "Enterprise Facilitation Project," launched in partnership with the Ministry of Industries and Production and the International Labour Organization (ILO). Under the Prime Minister’s SME Development Vision, safeguarding the rights of industrial and business workers and providing them with formal incentives remain key government priorities.