National Coordination Committee for SME takes up 11-point agenda to foster investment & entrepreneurship opportunities

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ISLAMABAD, Jul 9 (DNA):The National Coordination Committee for SME Development on Tuesday discussed 11-point agenda for the growth and facilitation of SMEs in order to foster investment and entrepreneurship opportunities in the country.

The 11th meeting of the Committee was chaired by Federal Minister for Industries and Production Rana Tanveer Hussain , said a press release.

The minister emphasized that SMEs were the bedrock of the economy and in line with the Prime Minister’s directives, efforts were underway to streamline the registration process and provide facilitating support to SMEs, ensuring their seamless operation and growth.

The meeting also discussed different options to enhance business viability by reducing operational costs, increasing investment incentives, providing accessible credit facilities for SMEs to launch and grow their ventures, and allocating land in industrial estates, specifically for SMEs to establish and expand their operations.

It resolved to empower women entrepreneurs through various initiatives and allocated a dedicated fund of Rs 5 billion to establish a comprehensive SMEs fund, aiming to provide financial support and stimulate the growth of small and medium enterprises.