SMEDA Board Reviews SME Formalization Reforms, Pushes for Rapid Industrial Growth in Pakistan
Special Report
Lahore, Oct 12, — The 32nd meeting of the Board of the Small and Medium Enterprises Development Authority (SMEDA) was held under the chairmanship of Mr. Haroon Akhtar Khan, Special Assistant to the Prime Minister (SAPM) on Industries and Production, to review proposed reforms for accelerating SME formalization and industrial growth across Pakistan.
The meeting discussed amendments to the SMEDA Ordinance 2002, the appointment process of the new Chief Executive Officer, and the Authority’s SME Formalization Initiative.
The session was attended by Mr. Saif Anjum, Secretary, Ministry of Industries and Production; Mr. Socrat Aman Rana, CEO SMEDA; Mr. Masood Akhtar, Chief (Law & Clarification), FBR; Ms. Iffat Malik, Joint Secretary (Expenditure), Ministry of Finance; and Mr. Muhammad Ashraf, Executive Director General, Ministry of Commerce. Private sector members Ms. Aasia Saail Khan, Dr. Syed Zahoor Hassan, Mr. Mashood Khan, and Mr. Osman Saifullah Khan also took part.
Addressing the Board, Mr. Haroon Akhtar Khan reiterated the Prime Minister’s strong commitment to the rapid development of Pakistan’s SME sector, emphasizing SMEDA’s pivotal role in driving sustainable industrial growth and job creation. He directed the Authority to launch a nationwide awareness campaign highlighting government incentives for registered SMEs and to fast-track efforts to bring more enterprises into the formal sector through SMEDA’s SME Registration Portal.
Highlighting the government’s focus on long-term industrial financing, the SAPM informed the Board that it has been made a key component of the forthcoming Industrial Policy. He added that a high-level committee, chaired by the Federal Minister for Finance, has been constituted to promote sustainable financing mechanisms for SMEs.
SMEDA CEO Mr. Socrat Aman Rana apprised the Board that 13 amendments have been proposed to the SMEDA Ordinance 2002 to streamline inter-ministerial coordination and ensure timely approvals for SME development incentives. He also briefed the members on SMEDA’s participation in the launch of the OIC SME Network (OIC-SMENET) held in Baku, Azerbaijan, and Pakistan’s debut at BIOPROM-2025, Russia’s premier biotechnology and pharmaceutical trade fair.
Concluding the session, the CEO expressed gratitude to the SAPM and the Secretary, Ministry of Industries and Production, for their continued guidance and support in strengthening Pakistan’s SME ecosystem and expanding global linkages for local enterprises.
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