SMEDA Unveils Ten-Year Cluster-Based Development Plan

The Small and Medium Enterprises Development Authority (SMEDA) has unveiled a comprehensive Ten-Year Cluster-Based Development Plan in honor of the international Micro, Small and Medium Enterprises (MSME) day. This initiative aims to boost the growth and competitiveness of small and medium-sized businesses in Pakistan.

The plan, introduced by Federal Minister of Industries and Production, Rana Tanveer Hussain, targets five key sectors: Fruits & Vegetable Processing, E-bike, Pharmaceutical, Sea Foods, and Marble & Granite. The primary goal is to harness the potential of these sectors for increased exports, aligning with the Strategic Trade Policy Framework (STPF) for 2020-25.

During the launch event attended by SMEs, business leaders, and government officials, Rana Tanveer Hussain emphasized the pivotal role of SMEs in driving economic growth, fostering innovation, and creating employment opportunities. He stressed the importance of collaboration among the government, businesses, and citizens to ensure the successful execution of the plan.

SMEDA's Chief Executive Officer, Socrat Aman Rana, highlighted the organization's dedication to evidence-based planning and economic development. He outlined the anticipated value additions and export growth projections for the selected clusters, emphasizing the transformative impact of the Cluster Studies conducted by SMEDA.

Looking ahead, SMEDA envisions the establishment of one million new enterprises, the creation of six million jobs, and a rise in SMEs' contribution to the GDP to 44%. These ambitious initiatives are poised to significantly bolster the economy and empower women and youth through a range of development programs.

The launch of SMEDA's Ten-Year Cluster-Based Development Plan marks a significant milestone in Pakistan's efforts to enhance the growth and sustainability of small and medium enterprises. By focusing on key sectors and fostering collaboration, this initiative is set to drive economic progress, foster innovation, and create opportunities for entrepreneurs across the country.