Islamabad: The government has constituted a National Coordination Committee (NCC) regarding the development of Small and Medium Enterprises (SMEs), according to a news source published on August 13. The Federal Minister for Industries and Production Hammad Azhar has been tasked with heading this committee, which aims to promote the growth of SMEs in the country.
The Prime Minister Secretariat released a notification in this regard on Wednesday, revealing that this NCC consists of 14 members. The notification further revealed that Prime Minister (PM) Imran Khan had ordered the NCC to review and finalize a draft of the SME policy within two weeks. The Ministry of Industries and Production is expected to provide secretarial support to this committee.
In addition, Hammad Azhar will provide the PM with weekly updates about the impediments in the policy, recommendations for its improvement, as well as the effectiveness of its implementation. Furthermore, the NCC chair has been given leeway to appoint anyone from the public or private sector, if necessary. This committee will facilitate SME development by:
Creating fiscal and monetary incentives for SME growth
Suggest measures to address the issues faced by the sector
Propose legislative and regulatory amendments to increase ease of doing business for SMEs
Develop a mechanism to ensure coherent implementation of these measures
Set deliverables targets for implementing all measures, within preset timelines
