Lahore: The Small and Medium Enterprises Development Authority (SMEDA) has introduced a ten-year Cluster-Based Development Plan aimed at fostering growth in the SME sector. The plan, revealed during a ceremony marking international Micro, Small and Medium Enterprises Day, focuses on five key sectors: Fruits and Vegetable Processing, E-bike, Pharmaceutical, Sea Foods, and Marble and Granite.
According to Small and Medium Enterprise Development Authority, the strategy was developed in collaboration with the Ministry of Planning, Development, and Special Initiatives and involved consultations with the private sector. Dr. Fakhar e Alam Irfan, Federal Secretary of Industries and Production, emphasized the significant role of SMEs in the nation's economy, driving innovation, growth, and job creation. The plan aligns with Pakistan's Strategic Trade Policy Framework 2020-2025 and is designed to enhance export capabilities and employment opportunities in these targeted clusters.
Mr. Socrat Aman Rana, CEO of SMEDA, highlighted the economic potential of the selected clusters, projecting substantial increases in value addition and exports. For example, the Potato cluster could generate $339 million through value addition, while the Seafood cluster could significantly multiply its current exports of $456 million. The plan also includes support mechanisms such as a PKR 30 billion SME Fund and a National Women Entrepreneurship Policy to foster economic empowerment.