*Transform SMEs into Dollar Earners, SAPM Haroon Akhtar Directs SMEDA
Islamabad : SAPM Haroon Akhtar Meets Sialkot Small & Medium Enterprise Cluster
Focus on SME Challenges, Tax Regime Reform, Energy Costs, Banking Support, and Export Competitiveness
Special Assistant to the Prime Minister (SAPM) on Industries & Production, Haroon Akhtar, held a detailed meeting with the Sialkot Small and Medium Enterprise (SME) Cluster. The meeting was attended by the Additional Secretary for Industries and Production Mr. Asad Islam Mahni, the Acting CEO of SMEDA Nadia J Seth, and representatives of the Sialkot Chamber of Commerce & Industry.
During the meeting, participants discussed in detail the major challenges faced by micro, small, and medium enterprises, which SAPM Haroon Akhtar described as “the engine of Pakistan’s economy.”
Representatives from medium-sized enterprises called for a shift from the normal tax regime to a fixed tax regime, citing the need for a simpler and more predictable taxation framework.
The Sialkot SME delegation highlighted high electricity prices and limited banking support as major obstacles to business growth. They also raised concerns from the surgical instruments industry, noting that the absence of an accreditation laboratory was severely affecting Pakistan’s exports. “Non-accredited surgical instruments are not accepted in global markets,” industry representatives stressed.
SAPM Haroon Akhtar informed the participants that the government is actively working on introducing a fixed tax regime for SMEs. He also announced a new incentive package based on electricity consumption, under which electricity tariffs will decrease as industrial units consume more units.
To address the surgical industry’s concerns, SAPM directed SMEDA and the Trade Development Authority of Pakistan (TDAP) to jointly develop a strategy for establishing proper accreditation. He further emphasized upgrading existing laboratories to meet international certification standards.
SAPM Haroon Akhtar noted that Sialkot’s SMEs possess export potential worth billions of dollars, but their growth is hindered by difficulties in obtaining lines of credit from banks. He issued instructions to SMEDA and the State Bank of Pakistan to resolve these credit access issues on a priority basis.
Highlighting SMEDA’s vital role in national economic development, he stated that SMEs must be transformed into dollar-generating enterprises. SAPM Haroon Akhtar directed SMEDA to prepare a comprehensive plan and present concrete results in the upcoming review meeting.
Sohail Majeed is a Special Correspondent at The Diplomatic Insight. He has twelve plus years of experience in journalism & reporting. He covers International Affairs, Diplomacy, UN, Sports, Climate Change, Economy, Technology, and Health.
