The Board of the Small and Medium Enterprises Development Authority (SMEDA) is reviewing significant amendments to its governing ordinance to accelerate the government’s nationwide drive to bring more businesses into the formal economy. The proposed changes were a central topic during the authority’s 32nd board meeting, which also addressed the appointment of a new chief executive, according to SMEDA information today.
The meeting, chaired by Mr. Haroon Akhtar Khan, Special Assistant to the Prime Minister (SAPM) on Industries and Production, underscored the government”s high-level focus on the SME sector. Mr. Khan conveyed the Prime Minister”s firm commitment to the rapid development of smaller enterprises, identifying them as crucial for sustainable industrial growth and job creation in the country.
Mr. Khan directed SMEDA to initiate a national awareness campaign to publicize government incentives available to registered businesses. He urged the authority to intensify its efforts in documenting the economy by registering more enterprises through the SME Registration Portal.
A critical component of the government”s strategy, long-term financing for SMEs, was also highlighted. The SAPM informed the board that this has been integrated as a key element of the upcoming Industrial Policy. To support this initiative, a high-level committee, led by the Federal Minister for Finance, has been established to develop and promote mechanisms for long-term industrial financing.
SMEDA”s Chief Executive Officer, Mr. Socrat Aman Rana, informed the board that 13 amendments have been proposed for the SMEDA Ordinance 2002. He explained that the modifications are designed to streamline inter-ministerial coordination, ensuring quicker approvals from other government divisions for incentives aimed at SME development.
Mr. Rana also updated the members on the authority”s recent international engagements. This included SMEDA’s successful involvement in the launch of the OIC SME Network (OIC-SMENET) in Baku, Azerbaijan, and Pakistan”s inaugural participation at BIOPROM-2025, a premier biotechnology and pharmaceutical trade fair in Russia.
The meeting was attended by key officials including Mr. Saif Anjum, Secretary of the Ministry of Industries and Production, alongside representatives from the Federal Board of Revenue, the Ministry of Finance, and the Ministry of Commerce. Private sector members Ms. Aasia Saail Khan, Dr Syed Zahoor Hassan, Mr. Mashood Khan, and Mr. Osman Saifullah Khan also participated in the session.