Small and medium enterprises (SMEs) are the real driving force for any economy. Reforms need to focus on developing research-based policies that can bring about an economic revolution in the country, said Sheikh Alauddin, Provincial Minister for Industries, Commerce and Investment while addressing the inaugural session of the 2nd SME International Conference. The conference was a joint effort of the Small and Medium Enterprises Development Authority (Smeda) and the University of Management and Technology
Sheikh stressed that institutional policy reforms should be focused on research, field studies, circumstantial evidence and innovations.
He also urged that development agencies and government departments to play an active role in materialising and translating the research outcomes into concrete projects.
Federal Industries and Production Secretary Khizar Hayat Gondal declared that SME development was the focal point for the government, and Smeda being part of the Ministry of Industries and Production, had been playing its role as a bridge between the SMEs and the government.
The diverse product and service portfolio of Smeda was serving the business needs for new enterprise creation and further growth of businesses in the country.
Smeda CEO Sher Ayub while stressing upon the research reforms for SME said that SME development is crucial for tackling problems of unemployment and poverty. He added that until now no accurate data and research was available.He added that a key feature of the SME conference launched last year was to promote business-related research in higher educational institutes.
