Islamabad: The Pakistani government unveiled plans to strengthen small and medium enterprises (SMEs) and the industrial sector through modern economic models and cost-based incentives. This initiative, aimed at accelerating industrial growth and enhancing export potential, was discussed in a meeting chaired by Federal Minister for Economic Affairs Ahad Cheema. The meeting focused on facilitating SMEs’ access to export markets and improving their contribution to the national economy.
According to Press Information Department, Minister Cheema emphasized the need for adopting modern economic practices over protectionist approaches, aligning with Pakistan’s national priorities and macroeconomic goals. The government intends to create a supportive regulatory framework and improve financial access for SMEs and large-scale industries to boost efficiency and competitiveness.
The roadmap proposes prioritizing cost-based incentives in line with Pakistan’s commitments under the IMF programme. Minister Cheema highlighted the government’s focus on cost-based support for SMEs over expanding Specialized Economic Zones (SEZs), aiming to reduce business costs and foster economic development.
The meeting also addressed reducing export taxation and finalizing sector-specific policies to enhance industrial productivity. Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan noted growing international interest in partnerships with Pakistani SMEs and industries, which the government will facilitate through institutional platforms like the Special Investment Facilitation Council (SIFC).
Key performance indicators were discussed to monitor industrial performance and foreign investment impact. Minister Cheema reiterated the importance of integrating informal SMEs into the formal economy through comprehensive surveys and engagement, promising long-term benefits and improved access to support.
The government plans to introduce regulatory reforms and incentives linked to formal registration, aiming to create a robust, competitive, and export-oriented industrial sector.