BY: ANI Correspondent:
ISLAMABAD— Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan has said that countries which empower entrepreneurs, small and medium enterprises (SMEs), and innovators ultimately emerge as global economic leaders, stressing that Pakistan’s future prosperity depends on strengthening the SME sector.He expressed these views while addressing the World MSME Day 2026 SME Networking Session organized by the Islamabad Chamber of Small Traders and Small Industries (ICSTSI) in collaboration with the Small and Medium Enterprises Development Authority (SMEDA). The event was chaired by ICSTSI President Muhammad Awais Satti and SMEDA Chief Executive Officer Nadia Jehangir Seth, and was attended by Federal Secretary for Industries Humaira Zia Mufti, Usman Saifullah, representatives of chambers of commerce, entrepreneurs, and SMEs from across the country.Haroon Akhtar said the government is pursuing export led economic growth through innovation, entrepreneurship, and SME development. He noted that SME financing had reached Rs584 billion by March 31, while 53 percent of businesses had received enhanced financial support, resulting in industrial expansion and employment generation.He said the government has launched Rs30 billion worth of initiatives to promote SMEs, adding that Prime Minister Shehbaz Sharif has prioritized easier access to finance, taxation reforms, land availability, improved ease of doing business, and resolution of issues related to the State Bank of Pakistan.”Every great economy has a story of entrepreneurs. Those who create jobs are the true builders of nations,” Haroon Akhtar said, paying tribute to Pakistan’s entrepreneurs, innovators, and women business leaders for their growing contribution to economic development.Highlighting the importance of SMEs, he said Pakistan has around seven million SMEs, contributing nearly 40 percent to GDP, around 30 percent of exports, and employing almost 80 percent of the non agricultural workforce.He said SMEDA is working to improve access to finance, promote business formalization, and enhance the competitiveness of SMEs in domestic and international markets. He emphasized that formal registration enables businesses to secure bank financing and benefit from government support programmes.Haroon Akhtar further said the government is connecting Pakistani SMEs with global markets through digital platforms and has signed an MoU with Alibaba to facilitate e commerce and online exports. He added that SMEs are being encouraged to participate in international trade exhibitions, while outreach programmes have been expanded to Gilgit Baltistan, Balochistan, and Khyber Pakhtunkhwa to integrate regional industrial clusters with national and international markets.Referring to Pakistan’s export potential, he said handmade products, furniture, honey, sports goods from Sialkot, and other traditional industries possess significant value in global markets and deserve greater institutional support.He announced that the government would continue providing SMEs with improved liquidity, easier financing, tax facilitation, land availability, and regulatory reforms to create a more business friendly environment.Speaking on the occasion, ICSTSI President Muhammad Awais Satti said SMEs contribute nearly 40 percent to Pakistan’s GDP and around 35 percent of national exports, making them the backbone of the country’s economy.He called for reducing the cost of doing business, ensuring affordable energy prices, simplifying documentation procedures, resolving issues related to labour laws and the Capital Development Authority (CDA), improving access to finance, and maintaining interest rates at single digits to facilitate business expansion.Awais Satti also appreciated SMEDA’s continued support for the SME sector and noted that the Islamabad Chamber was Pakistan’s first dedicated SME Chamber, with similar chambers now established in around 20 cities across the country, reflecting the growing importance of SMEs in Pakistan’s economic development.
