Govt to define SMEs in industrial policy

July 22, 2025 (MLN): In a bid to support industrial and export growth, the Government is set to propose a standardized definition of Small and Medium Enterprises (SMEs) as part of a new forward-looking Industrial Policy, while also considering relief measures for exporters affected by recent tax reforms.

The matter was discussed during a key meeting between the Special Assistant to the Prime Minister on Industries and Production and a high-level delegation from the Sialkot Chamber of Commerce and major export associations as per press release.

The delegation, representing the Sialkot Chamber of Commerce and Industry, Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA), and Pakistan Hosiery Manufacturers Association (PHMA), raised pressing concerns over the shift from the Fixed Tax Regime.

They pointed out that the transition to the Normal Tax Regime under the Finance Act 2024 has become a major burden for exporters.

The Government is actively working to resolve the concerns raised by the business community, with a focus on ensuring a stable and predictable policy framework to support industrial growth.

It was noted that Prime Minister Shehbaz Sharif has directed authorities to treat these matters with top priority

Highlighting the government’s broader economic vision, Mr. Khan revealed that the upcoming Industrial Policy will focus on creating a stable framework to attract investment, boost productivity, and ensure sustainable industrial growth.

“We are working on a comprehensive strategy to revitalize industry and address long-standing structural issues,” he added.

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