Govt accelerates SME reforms under SMEDA

October 13, 2025 (MLN): The government has stepped up efforts to accelerate SME formalization and financing under the new reforms being reviewed by the Small and Medium Enterprises Development Authority (SMEDA).

The 32nd meeting of the SMEDA Board examined proposed amendments to the SMEDA Ordinance 2002, the appointment process of the new Chief Executive Officer, and the Authority’s SME Formalization initiative, according to press release issued. 

The meeting was chaired by Special Assistant to the Prime Minister (SAPM) on Industries and Production, Mr. Haroon Akhtar Khan, and attended by senior officials from the Ministry of Industries and Production, Federal Board of Revenue (FBR), Ministry of Finance, and Ministry of Commerce, alongside private sector members of the Board.

During the meeting, the SAPM reaffirmed the government’s strong commitment to accelerating SME development, emphasizing SMEDA’s critical role in promoting sustainable industrial growth and employment.

He directed SMEDA to introduce a nationwide awareness campaign on government incentives for registered SMEs and expedite efforts to bring more businesses into the formal sector through the SME Registration Portal.

Highlighting the significance of long term financing for small and medium enterprises, the SAPM informed that it has been prioritized in the forthcoming Industrial Policy.

A high-level committee, chaired by the Federal Minister for Finance, has been established to advance industrial financing mechanisms.

Briefing the Board, SMEDA CEO Mr. Socrat Aman Rana shared that 13 amendments have been proposed to the SMEDA Ordinance 2002 to improve inter-ministerial coordination and expedite SME related approvals.

He also informed about SMEDA’s participation in the introduction of the OIC SME Network (OIC-SMENET) in Baku, Azerbaijan, and Pakistan’s debut at BIOPROM-2025, Russia’s leading biotechnology and pharmaceutical trade fair.

The CEO expressed gratitude to the SAPM and the Secretary of the Ministry of Industries and Production for their continued guidance and support in strengthening Pakistan’s SME ecosystem and enhancing global linkages for local enterprises.

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