01-05-2025
- Business
- Business Recorder
SME sector: SAPM extends support to enhance employments
LAHORE: Haroon Akhtar, Special Assistant to the Prime Minister on Industries and Production, Saif Anjum, Federal Secretary Ministry of Industries and Production and Socrat Aman Rana, Chief Executive Officer of the Small and Medium Enterprises Development Authority (Smeda), in a joint statement issued here on Wednesday to mark the International Labour Day 2025, have assured to extend the fullest support to enhance employments and skill development opportunities in the SME sector for labour force of Pakistan in line with the SME development vision of the Prime Minister to be implemented by the Ministry of Industries and Production through Smeda.
SAPM said, 'On International Labour Day, we acknowledge the invaluable contributions of workers across Pakistan's industrial and commercial sector,' and emphasized upon the importance of formalizing the informal economy to ensure workers' rights and social protections. He said the Ministry of Industries and Production was working hard to protect workers rights while increasing job opportunities in the SME sector under PM vision.
Federal Secretary Saif Anjum informed that the Ministry of Industries and Production (MoIP) in partnership with the ILO had launched 'the Enterprise Formalization Project, which will also formalize the labour force to improve their employability and access to the new job markets by developing the skills required for a just transition in response to climate change.
CEO Smeda Socrat Aman Rana said, 'At Smeda, we are committed to look after the complete value chain of SME sector, in which labour plays the pivotal role.' He informed that Smeda development projects also include capacity building initiatives for labour force of the country to provide them with the necessary tools, training, and resources to compete in the job market.
He said that over 84 percent of Pakistan's workforce operates informally within the SME and home-based sectors, creating barriers for businesses and workers alike. 'This informality limits access to critical markets, financing, social protections and skill development,' he said and hoped the 'Enterprise Formalization Project' launched by MoIP in collaboration with ILO will remove these anomalies.
Copyright Business Recorder, 2025
