Lahore, August 03, 2023 (PPI-OT): The International Expert on Finance and Development Prof. Asim Ijaz Khawaja, Director Center for International Development at Harvard Kennedy School of Government, has advised the Small and Medium Enterprises Development Authority (SMEDA) to conduct high quality research for having tangible results on SME development in Pakistan. It was suggested by him in an interactive session with a group of SME experts today at SMEDA head office. Mr. Socrat Aman Rana, General Manager Central Support Division of SMEDA led the in-house team of SMEDA experts on behalf of CEO SMEDA Mr. Farhan Aziz Khawaja.
Prof. Asim Khawaja informed that Pakistan’s diaspora was keen to serve Pakistan for overcoming the prevailing economic problems. He offered to bring overseas students of business and economy to Pakistan for conducting quality research studies for SMEDA as internees. He opined that the research-based initiatives would enable Pakistan to meet the current economic challenges through rapid growth of SMEs.
Prof. Khawaja lamented that the Banking industry in Pakistan, despite concerted persuasion of SMEDA and SBP, were reluctant to extend the required financial support to SMEs. He urged to take attractive measures for making SMEs bankable provided with a foolproof support mechanism comprising credit rating and credit guarantee agencies to disburse adequate financing to SMEs from the banks. To bring SMEs from informal to formal sector, Prof. Khawaja proposed to introduce exclusive schemes bearing incentives, concessions and awards. He further said that SMEDA should be the single repository for all information and data relating to SME sector. The wide resources available in the local universities may be utilized to collect data and conduct research studies on various aspects of the SME sector, he added.
Earlier Mr. Socrates Aman Rana, GM Central Support, SMEDA welcomed the guest and apprised him about SMEDA’s initiatives and projects on SME development. He informed that with efforts of CEO SMEDA Farhan Aziz Khawja, entrepreneurship has been included in the national curriculum as a subject at school level. Ms. Nadia Jehangir Seth, GM Policy and Planning of SMEDA gave a comprehensive presentation on SMEDA’s development strategies. Raja Hassanien Javed, GM Outreach, Mr. Javed Afzal, Provincial Chief SMEDA-Punjab, Mr. Shaheen Tahir DGM Outreach and Mr. Shahryar Tahir, Director External Relations Department of SMEDA also shared their views with Prof. Asim Khawaja regarding SME development.
For more information, contact:
DGM (Admin. and PR)
Small and Medium Enterprises Development Authority (SMEDA)
4th Floor, Building No.3, Aiwan-e-Iqbal Complex,
Egerton Road, Lahore, Pakistan
Tel: +92-42-111-111-456
Fax: +92-42-36304926-7
Email: [email protected], [email protected]
Website: www.smeda.org.pk