SMEDA, FPCCI reaffirm cooperation to support MSME growth

LAHORE: Small and Medium Enterprises Development Authority (SMEDA) Chief Executive Officer Nadia Jahangir Seth has said the authority is working to build an enabling environment for micro, small and medium enterprises (MSMEs) so they can expand and play a stronger role in the national economy, according to a statement issued on Saturday.

She made the remarks during a visit by a SMEDA delegation to the Lahore regional office of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), where discussions focused on the development of the SME sector and measures aimed at improving its contribution to economic activity.

Seth said the authority’s work was aligned with Prime Minister Shehbaz Sharif’s vision of accelerating economic growth through the promotion of small and medium enterprises. She said SMEDA had launched strategic efforts intended to help unlock the capacity of MSMEs across Pakistan.

"SMEs are the backbone of Pakistan's economy and hold tremendous potential for job creation, innovation and export growth. SMEDA is fully committed to equipping them with the tools, opportunities and policy support needed to thrive in an increasingly competitive environment," Seth said speaking about the sector’s importance.

According to the statement, she outlined several interventions being pursued by SMEDA, including targeted initiatives for women entrepreneurs, support for SME registration and formalisation, assistance for export promotion and improved facilitation services. She also said special steps had been introduced to reduce financial pressures and improve access to economic opportunities.

FPCCI highlights structural challenges

FPCCI Regional Chairman and Vice President Zaki Ijaz said MSMEs are widely recognised around the world as an important engine of economic growth. He said Pakistan’s SME sector continues to make a significant contribution despite a range of structural difficulties.

Ijaz identified limited access to finance, the rising cost of doing business, complex regulatory procedures, barriers to technological adaptation and export-related constraints as among the main issues affecting the sector.

"Pakistan's sustainable economic progress depends on a strong and resilient SME sector. Strengthening SMEs is essential for enhancing productivity, creating jobs and improving the country's export competitiveness," he said.

Ijaz also noted that Seth had received the Tamgha-e-Imtiaz from the government in recognition of her services in SME development, public policy and the promotion of women’s entrepreneurship.

Commitment to joint initiatives

The statement said SMEDA and FPCCI reiterated their resolve to continue collaborative efforts aimed at strengthening MSMEs and increasing their contribution to Pakistan’s economic growth.

Senior SMEDA officials accompanied the chief executive during the visit, which formed part of the authority’s engagement with business stakeholders on SME development and facilitation.

The meeting underscored the shared view of both organisations that stronger institutional support, improved policy implementation and closer coordination with the business community are important for helping MSMEs address existing constraints and expand their role in employment generation, innovation and exports, as outlined in the statement.