Latest news with #SocratAmanRana
Express Tribune
05-07-2025
- Business
- Express Tribune
SMEDA, Akhuwat join hands
Listen to article In line with the prime minister's vision of inclusive economic growth through grassroots entrepreneurship, the Small and Medium Enterprises Development Authority (SMEDA) has signed a Memorandum of Understanding (MoU) with Akhuwat Islamic Microfinance (AIM) to improve access to finance, formalisation, and hand-holding of micro enterprises across Pakistan. According to an official statement released on Saturday, the MoU was signed by SMEDA CEO Socrat Aman Rana and Akhuwat Foundation Founder and Chairman Dr Amjad Saqib, in the presence of Federal Secretary for Industries and Production Saif Anjum at the SMEDA head office. Addressing the ceremony, Secretary MOIP Saif Anjum highlighted that micro, small, and medium enterprises (MSMEs), as the backbone of Pakistan's economy, play a critical role in driving resilience, employment, and innovation. He emphasised that micro enterprises are a top priority in the prime minister's economic agenda. He noted that a steering committee, headed by himself, had been constituted to address challenges faced by the MSME sector. As part of its efforts, the committee has also initiated a reorganisation of SMEDA to enhance its effectiveness in serving the SME sector. "Today's MoU between SMEDA and AIM reflects the commitment of Prime Minister Shehbaz Sharif and SAPM Haroon Akhtar Khan to empower MSMEs," he stated. He expressed hope that the collaboration would strengthen micro-financing and capacity building, helping to create a robust ecosystem for bridging financial gaps and promoting inclusion of micro enterprises in the formal financial landscape. He lauded SMEDA's contributions in training, advisory services, and advocacy, and praised AIM's efforts in promoting financial inclusion. Earlier, SMEDA CEO Socrat Aman Rana welcomed the guests and outlined the objectives of the MoU. "This collaboration with Akhuwat is a concrete step toward realising the prime minister's dream of a robust and equitable entrepreneurial ecosystem," he said. He stressed SMEDA's focus on strengthening micro enterprises through targeted capacity building and streamlined regulatory processes. He acknowledged the role of the SAPM in facilitating the collaboration, citing his ongoing support for SMEDA's mission and advocacy for MSME development. Sharing sector data, the SMEDA chief noted that microfinance now serves nearly 12 million active borrowers, supported by a gross loan portfolio of approximately Rs644 billion, reflecting a strong 13% year-on-year growth. Notably, 46% of borrowers are women, highlighting the sector's inclusive and gender-sensitive impact. He added that the main areas of microfinance. trade and services (Rs144 billion), livestock and poultry (Rs164 billion), and agriculture (Rs138 billion), mirror the core of Pakistan's MSME ecosystem, especially in rural and semi-urban regions. However, he warned that access to formal finance remains a major hurdle for MSMEs, particularly in underserved areas. He termed the MoU a major breakthrough to bridge this financing gap and unlock Pakistan's entrepreneurial potential. Speaking at the event, AIM Chairman Dr Amjad Saqib expressed confidence that the collaboration would enhance micro enterprises' access to finance through AIM's nationwide network. He acknowledged the vital role of micro enterprises in poverty reduction and employment generation, and hoped the partnership would contribute meaningfully to national economic growth.
Business Recorder
05-07-2025
- Business
- Business Recorder
IP rights for SMEs: SMEDA, IPO agree to undertake joint awareness drive
LAHORE: The Small and Medium Enterprises Development Authority (SMEDA) and the Intellectual Property Organization (IPO) have agreed to undertake the joint efforts to make SMEs aware of the significance of Intellectual Property Rights. A meeting in this regard was held today at SMEDA head office today with IPO team headed by Chairman IPO Farrukh Amil. On this occasion SMEDA team was led by SMEDA CEO Socrat Aman Rana. Both the teams discussed different ways and means to make SMEs aware of the IPR with a focus to strengthen the enforcement mechanism for intellectual property rights through an enhanced collaboration between SMEDA and IPO. CEO SMEDA Socrat Aman Rana, while welcoming the IPO team assured to extend the fullest cooperation of SMEDA to enhance awareness of SMEs on IPR. He proposed to develop a Memorandum of Understanding (MoU) for this purpose and suggested to organize awareness sessions in the industrial clusters as collaborative events under a well-planned joint activity calendar. The Chairman of IPO Pakistan Farrukh Amil, exchanging his views on this occasion said that SME sector can get a lot of benefits having the IPR registration. SMEDA collaboration in this regard can play vital role, he added and observed that the agriculture sector required more awareness on the intellectual property rights. He suggested putting the agriculture sector on top priority while launching the SMEDA-IPO joint awareness campaign. Both the organizations agreed to determine specific functions of SMEDA and IPO for the proposed MOU in awareness, research and SME support. Formation of a joint working group for IP need assessment of the SME sector and sub-sectors for pilot projects were also considered on the occasion. Copyright Business Recorder, 2025
Business Recorder
04-07-2025
- Business
- Business Recorder
Smeda, Jica ink agreement on ‘Capacity enhancement of women entrepreneurs'
LAHORE: The Small and Medium Enterprises Development Authority (Smeda) and the Japan International Cooperation Agency (Jica) have inked an agreement for 'Capacity Enhancement of Women Entrepreneurs' in the informal economic sector of Punjab. Chief Executive Officer of Smeda Socrat Aman Rana, and Head of Jica Mission Komahshi Rie, signed the agreement at a ceremony held at Smeda Head Office Thursday. On this occasion, CEO Smeda Socrat Aman Rana welcomed the Jica Mission and highlighted the project's importance for the economic development of women entrepreneurs. He said that enhancement of women entrepreneurs was the priority of both provincial and federal government in Pakistan. He assured to work hand in gloves with Jica to achieve objectives of the agreement. Head of Jica Mission Komahashi Rie, expressing her views in the signing ceremony, expressed satisfaction on collaboration with Smeda in the women entrepreneurs' empowerment initiative. She said 'it's a challenging project but it will prove to be a breakthrough to overcome barriers faced by micro-level women entrepreneurs.' It is notable that the initiative titled as 'Project for capacity enhancement of women entrepreneurs in the informal economic sector in Pakistan', is the culmination of a series of meetings and consultations between Smeda, Jica, and relevant public and private sector stakeholders in Punjab. The five-year project (2026-2030) envisages development of a Women Entrepreneurs Booster Package (WEBPA) to facilitate business growth of the women entrepreneurs. It will also provide comprehensive support through a multi-stakeholders forum, which will mobilize public and private organizations along with Smeda to enhance women entrepreneurship in Punjab. The project will formulate a Scale-up Strategy and Action Plan (SUSAP) for the application of WEBPA with the goal of extending its benefits to women entrepreneurs across Punjab and other regions of Pakistan. Copyright Business Recorder, 2025
Express Tribune
28-06-2025
- Business
- Express Tribune
National SME Survey launched
Listen to article In a landmark step towards data-driven policymaking, the Small and Medium Enterprises Development Authority (Smeda) and Pakistan Bureau of Statistics (PBS) formally launched field operations for the National SME Survey at a ceremony held at the PBS office in Lahore, which coincided with the World MSME Day. Senior leadership from both organisations attended the event and emphasised the critical importance of the SME Survey in shaping the future of Pakistan's economic landscape. In his speech, Smeda CEO Socrat Aman Rana highlighted that SMEs were the backbone of Pakistan's economy, contributing 40% to the national GDP, 31% to total exports and generating nearly 78% of total employment. He underscored that despite their pivotal role, the lack of reliable and comprehensive data has historically hindered the development of effective, targeted SME policies. PBS Chief Statistician Naeemuz Zafar remarked that the survey was being undertaken in a phased manner and was designed to cover strategic sectors of SMEs.
Business Recorder
28-06-2025
- Business
- Business Recorder
SMEDA, PBS launch National SME Survey
LAHORE: In a landmark step towards data-driven policy making, the Small and Medium Enterprises Development Authority (SMEDA) and the Pakistan Bureau of Statistics (PBS) formally launched the field operations of the National SME Survey at a special ceremony held at the PBS Office in Lahore, coinciding with World MSME Day. Senior leadership from both organisations attended the event and emphasized the critical importance of the SME Survey in shaping the future of Pakistan's economic landscape. In his address, Socrat Aman Rana, CEO SMEDA, highlighted that Small and Medium Enterprises (SMEs) are the backbone of Pakistan's economy, contributing approximately 40 percent to the national GDP, 31 percent to total exports, and generating nearly 78 percent of total employment. He underscored that despite their pivotal role, the lack of reliable and comprehensive data has historically hindered the development of effective, targeted SME policies. He further informed the audience that Prime Minister Shehbaz Sharif, during a meeting of the Steering Committee on SME Development, had directed the launch of a nationwide SME Survey to address the long-standing issue of outdated and fragmented data. In line with this directive, SMEDA and PBS joined hands to design and implement the National SME Survey through a collaborative and consultative process involving multiple stakeholders. Appreciating PBS's dedication and technical leadership, CEO SMEDA commended the Bureau's unwavering efforts in successfully executing the early phases of the survey. Speaking on the occasion, Naeem Uz Zafar, Chief Statistician, PBS, remarked that the survey is being implemented in a phased manner and is designed to cover strategic economic sectors of SMEs through a total of 12 sectoral surveys. He informed the house that four of these surveys have already been successfully completed, owing to the close coordination between PBS, SMEDA, and other stakeholders. Marking World MSME Day 2025, the Chief Statistician and CEO SMEDA announced the commencement of field operations for the next five sectoral surveys of Education, Human Health & Social Work Activities, Publishing & Software Development, Acco mmodation & Food Service Activities (Hotels and Restaurants) and Other Personal Service Activities. He added that these surveys would generate reliable and current data to support evidence-based policymaking and promote inclusive and sustainable growth within Pakistan's SME sector. Copyright Business Recorder, 2025
