The Federal Minister for Industries and Production, Khusro Bakhtiar said that the government of Pakistan has approved a comprehensive Small and Medium Enterprises (SMEs) policy to strengthen the country’s industrial and manufacturing base.
According to media reports, the Minister for Industries and Production has made these remarks at a news conference along with the Federal Minister for Information and Broadcasting Chaudhary Fawad Hussain in Islamabad on Wednesday.
On the occasion, Khusro Bakhtiar has said that said that the policy is aimed at extending facilitation and incentives to promote the growth of SMEs. He said that under the SME policy, ‘Aasan Finance Scheme’ is being introduced to ensure access of capital to the industries.
The Minister further stated that loan up to ten million rupees will be provided without any collateral for the establishment of thirty thousand new businesses. He said a land of 4200 acre has been allocated which will be provided to the entrepreneurs on easy installments.
Bakhtiar has said that that productive businesses will be given fifty seven to eighty three percent special exemptions in taxes under the SME policy. He said special exemption in taxes will be given to women entrepreneurs in order to ensure their greater participation in businesses.
“An amount of thirty billion rupees has been allocated for Small and Medium Enterprises Authority for a period of five years. A proper mechanism has also been established for implementation of the SME policy,” he added.
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