Achievements
Over the period Government of Pakistan has incorporated separate agencies to take on the preliminary work done by SMEDA in various sectors. A number of independent sectoral development bodies have been created through SMEDA initiatives. Consequently, Pakistan Horticulture Development and Export Board (PHDEB), Pakistan Dairy Development Company (PDDC),Pakistan Stone Development Company (PASDEC), Pakistan Gems & Jewellery Development Company (PGJDC), Technical Upgradation & Skills Development Company (TUSDEC) has already started their operations. Whereas the task of SME development at a broader scale still requires more coverage and enhanced reach in terms of SMEDA’s areas of operation.
These services include identification of viable business opportunities for potential investors. In order to facilitate these investors, SMEDA provides business guidance through its help desk services as well as development of project specific documents. These documents consist of information required to make well-researched investment decisions. Pre-feasibility studies and business plan development are some of the services provided to enhance the capacity of individual SMEs to exploit viable business opportunities in a better way.
According to Economic Census of Pakistan, 2005 by Federal Bureau of Statistics, there are 70,658 women owned businesses operating across Pakistan. This represents 3% of total enterprises in Pakistan. It is estimated that most of the women owned businesses fall within the category of SMEs. The level of women participating in enterprise development currently is around 16%, reason being availability of their limited resources topped by lack of confidence to invest in infrastructural facilities. In order to bridge this gap, Government of Pakistan has given SMEDA the task of setting of first Women Business Incubation Center (WBIC) which was successfully established. This center is addressing the Women specific business development needs along with providing then secure space to nurture their business. Hence, it would not only provide physical facility but also impart business management training to existing and new entrepreneurs.
In realization of the dire need of a common vision for SMEs to be the real engine of economic growth, Prime Minister of Pakistan assigned SMEDA, the uphill task to devise the first ever SME Policy of Pakistan. In order to achieve the objective, wide scale consultation has been undertaken to elicit views of the ultimate beneficiaries, i.e. SMEs. The participation of stakeholders has been therefore, the cornerstone of the policy development process. Federal Cabinet, in its meeting on January 17, 2007 has approved the SME Policy. The Prime Minister, while approving the Policy stated that it marked advent of a new era of development with the long over due recognition of SMEs as a distinct entity and provides the framework & direction for SME development in Pakistan.
SME Clusters in Pakistan have huge potential and critical to SME growth. SMEDA has always been fully cognizant of the significance of Cluster Development and has taken several initiatives in this regard. These initiatives include Technological Up-gradation, establishment of Common Facility Centers(CFCs), access to Formal Finance for SME clusters, Marketing support, Improving HR skills and Awareness on International Certification & Regulations.
Foreseeing the emerging importance of web interface as a tool to provide information excess and capacity building to business sector in Pakistan, Ministry of Industries & Production has joined hands with Ministry of Information Technology and Telecommunication to launch first ever Business to Business (B2B) and information portal in Pakistan; the Industrial Information Network (IIN).
Read more about this topic: Pakistan Small And Medium Enterprise Development Authority
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