The government is working to evolve new policies aimed at supporting small and medium enterprises (SMEs) to boost industrial output, reduce the trade deficit and generate employment, officials said on Monday.
Read More: SAPM assures SMEs of support to unlock growth, jobs
Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan said targeted policy support and facilitation for SMEs would be central to unlocking growth in emerging industrial clusters. He made the remarks during a visit to Techno Auto Glass Ltd, Pak Suzuki Motor Company Ltd and Aisha Steel Mills at the Bin Qasim Industrial Park in Karachi.
Mr Khan appreciated the role of the industrial park in creating highly skilled jobs in manufacturing and said the government intends to support higher production volumes in the automobile segment, particularly small cars that remain out of reach for much of the middle and lower-middle class. He argued that affordable local alternatives can help millions shift from motorcycles to safer transport options while stimulating domestic production.
Industry representatives and Small and Medium Enterprise Development Authority (Smeda) Chief Executive Officer Nadia Jahangir Seth briefed the SAPM on the contribution of SME clusters to Pakistan’s manufacturing and export base. According to the briefing, roughly 75 automotive and auto parts companies are operating in and around Bin Qasim, employing nearly 100,000 workers and supplying locally manufactured components to the sector.
Ms Seth also outlined ongoing work to expand access to finance, improve technology adoption and enhance market linkages for SMEs. Stakeholders pledged to increase localisation efforts to reduce costs, improve competitiveness and create more skilled jobs for the country’s young workforce.
Read More: Punjab turns SMEs into engines of prosperity
Officials said the government’s evolving SME framework will seek to lower barriers for industrial investors, streamline regulation and strengthen supply chains as part of broader plans to revive Pakistan’s manufacturing sector.