Pakistan’s small and medium enterprises (SMEs) are grappling with significant obstacles, including restricted financial access, a lack of modern technology, insufficient market information, and rising operational costs, despite contributing nearly 40% to the nation’s GDP and 30% of its exports.
To address these issues, the Small and Medium Enterprises Development Authority (SMEDA) held an informational session today with members of the Gujranwala Chamber of Commerce and Industry (GCCI). The event was attended by a diverse group of entrepreneurs, manufacturers, exporters, and industrial representatives from the region.
Muhammad Javed Afzal, SMEDA”s Regional Chief for Central, outlined the organization’s array of business development services. He highlighted initiatives aimed at sector and cluster development, the provision of pre-feasibility studies, legal advisory, human resource development, and marketing support for local businesses.
Specific financial aid mechanisms were also discussed, including several grant programs. Mr. Afzal detailed the SME Certification and International Accreditation and Quality Improvement Grant Program, which offers a 70% matching grant for securing international certifications. He also spoke on an export assistance program for new exporters with growth potential and the second phase of the Industrial Stitching Units (ISU) Program, which aims to establish 350 additional units.
The SMEDA official reiterated the authority”s dedication to uplifting the SME sector through policy advocacy, financial facilitation, and comprehensive capacity-building programs. He encouraged the business community in Gujranwala to take full advantage of the available support opportunities.
The management of the GCCI and the event”s participants expressed their appreciation to SMEDA for disseminating valuable information regarding its initiatives.