Govt announces Rs5bn fund for small and medium enterprises

MG News | July 09, 2024 at 03:51 PM GMT+05:00

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July 09, 2024 (MLN): The government has decided to establish a Small and Medium Enterprises Fund with an amount of Rs5 billion, as decided in a meeting of the National Coordination Committee on Small and Medium Enterprises Development.

The meeting was chaired by Minister for Industries and Production Rana Tanveer Hussain in Islamabad today, according to the Information Ministry.

It was further decided to harmonize and uniform taxes at the federal a provincial levels for the SMEs.

Discussions extended further, and the government also authorized the provision of credit facilities to small and medium enterprises for starting businesses.

Another result of the meeting was that land will be allocated to SMEs at industrial estates.

In his remarks, the Minister for Industries and Production emphasized reducing the cost of doing business to enhance investments.

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