SMEDA’s ‘national roadmap’ draft reviewed

LAHORE: The Technical Working Group (TWG) of the Ministry of Industries and Production (MoIP)) on Business Formalisation reviewed an initial draft of the National Roadmap, proposed by SMEDA, in collaboration with the International Labour Organisation’s consultants, for transition of informal businesses into formal businesses.

The review meeting was held at the Small and Medium Enterprises Development Authority (SMEDA) head office with Saif Anjum, Secretary MoIP in chair. It was attended by Asad Islam Mahni, Additional Secretary Industries and Production, Socrat Aman Rana, CEO SMEDA, ILO Consultants Usman Khan, Muhammad Awais and senior officials of SMEDA. The other members of the TWG from private and public sector joined the discussion on zoom.

CEO SMEDA Socrat Aman Rana said that that Over 84 percent of Pakistan’s workforce operates informally within SMEs and home-based working sector, which creates obstacles for businesses and workers alike, hindering access to critical markets, financing, social protections, and skill development. He informed that the Project is an outcome of an earlier mapping study by ILO and SMEDA, which identified the need of developing a national roadmap for formalizing SMEs and home-based workers, removing barriers to registration and simplifying processes of regulations and operation.

Federal Secretary MoIP Saif Anjum said the collaboration of MoIP with the ILO for Enterprise Formalisation Project aims to attract enterprises operating in informal sector towards formal sector by bridging the gaps in their formalization process. He observed that the informal SMEs can thrive within a formal and supportive economic framework by creating a fearless and conducive environment. He was confident that National Roadmap to be developed for enterprises will enable SME sector to add substantial value to the national economy.

Earlier ILO Consultant Usman Khan gave a detailed presentation on the proposed National Roadmap for transition of the informal businesses towards business formalization.