Karachi: The Union of Small and Medium Enterprises (UNISAME) recently engaged in discussions with International Trade Centre (ITC) officials about the urgent restructuring of the Small and Medium Enterprises Development Authority (SMEDA). The meeting, held at the UNISAME office, included ITC Programme Officer Andres Santoni and consultant David Gass, focusing on enhancing SMEDA’s role under the direct oversight of Prime Minister Shehbaz Sharif.

According to Union of Small and Medium Enterprises, President Zulfikar Thaver of UNISAME welcomed the ITC officials, expressing gratitude for their guidance in revitalizing SMEDA to better serve Pakistan’s estimated 8 million SMEs, including SME farmers. Thaver emphasized the need for SMEDA to transform into a robust, well-funded authority capable of effectively advocating and addressing the sector’s challenges.

Thaver highlighted the specific needs of the SME sector, including the establishment of an SME export promotion bureau, a technical institute, and a coordination committee to liaise with major national institutions such as the State Bank of Pakistan (SBP), Trade Development Authority of Pakistan (TDAP), and Federal Board of Revenue (FBR), among others. He stressed that these steps are essential for the rapid development and support of SMEs.

The council members of UNISAME also proposed that SMEDA appoint a private sector chief executive officer to lead the authority, ensuring more dynamic and business-oriented leadership. Other suggestions included the creation of a free legal aid and dispute resolution committee, an SME business express portal, and an online SME Gallery to showcase Pakistani SME products globally.

Further improvements called for by UNISAME include modernizing collateral management, logistics, banking, and export credit guarantee insurance to make them more accessible and affordable for SMEs. They also advocated for more favorable energy and finance rates to reduce the cost and enhance the ease of doing business, thus making Pakistani goods more competitive in the international market.

The meeting concluded with Muhammad Uzair, manager of Sindh for UNISAME, acting as coordinator. The ITC officials committed to compiling a report based on these discussions and consultations with other relevant organizations, which will be submitted to the Government of Pakistan with recommendations on restructuring SMEDA to better meet the needs of the nation’s SMEs.