Given the prolonged sluggish or negative industrial growth and low tax-to-GDP ratio, policymakers and relevant institutions are taking a more concerted and integrated approach to promote small and medium enterprises (SMEs) and encourage them to enter the formal sector.

The Small and Medium Enterprises Authority (Smeda) recently held a consultative session with various stakeholders from the textile industry to align the second phase of its Industrial Stitching Units project with the Uraan Pakistan programme, aimed at boosting exports through SMEs.

Concerned stakeholders from the industry also provided recommendations for Phase II, which will now cater to multiple textile export sectors, including readymade garments, hosiery, knitwear, denim, leather garments, and towels, besides sports goods.

“Our focus is on integrating SMEs into the local, regional, and global value chains,” says a Smeda official. The representation of the private sector in the Smeda board is being increased, and microenterprises have been made part of SMEs under Prime Minister Shehbaz Sharif’s instructions.

The government had made decided efforts to increase small and medium enterprise finance and representation to improve the economy

While adopting a transparent process, the prime minister also asked Smeda to hire an international standard workforce at salaries in accordance with market rates.

Mr........

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