SMEDA hosts policy dialogue

LAHORE: Pakistan needs to ease regulatory and financing hurdles for small and medium enterprises (SMEs) and adopt best practices from around the world to boost their growth, experts and officials said on Thursday.

The Small and Medium Enterprises Development Authority (SMEDA) hosted a policy dialogue with stakeholders and economic experts at a local hotel to discuss ways to enhance the role of SMEs in the economy.

Dr. Khaqan Hassan Naneeb, senior economist and former advisor ministry of Finance was the key note speaker of the dialogue. Whereas, Nadia Jehangir Seth, general manage Policy and Planning of SMEDA delivered address of welcome on this occasion. Socrat Aman Rana, general manager central support and other members of SMEDA's senior management team also attended the dialogue.

Seth welcomed the participants and gave an overview of the initiatives taken by SMEDA to support SMEs.

She said the ministry of industries and production had approved a project called Research, Regulatory Insight and Advocacy Assistance (RRI&A) to fill the gap of research in the policy making process for SMEs. The project is being implemented by SMEDA with the help of experts and consultants.

Participants urged to frame a set of SME friendly policies to allow SMEs grow liberally. They pointed out, despite having a good SME policy, the conducive environment on ground is not still visible for the sector.

The speakers emphasized to cut down the regulatory and financing impediments by adding up the favorable policy interventions in accordance with the world best practices.