The government has allocated over Rs.1 billion to execute the initiatives proposed by the Small and Medium Enterprises Development Authority (SMEDA) in its five year SME development.

This was disclosed by Muhammad Alamgir Chaudhry, acting Chief Executive Officer of the Authority, while addressing the Lahore Chamber of Commerce and Industry (LCCI) here on Tuesday. Alamgir Chaudhry informed that to formulate the five SME Development Plan, SMEDA had to conduct 870 meetings with SME sector’s stakeholders.

The meetings were also undertook on value chain analysis of 13 sectors, which include food and agriculture, logistic, gems & jewellery, information technology and allied services, construction, light engineering, energy, leather, mineral, tourism and textile. SMEDA acting chief told that a presentation on SMEDA’s five year SME Development Plan was also given to the Planning Commission, who have not only allocated a fund of Rs. 1 billion for implementation of the proposed initiatives, but also mad the plan a part of the Prime Minister’s vision 2020.