Govt moves to revive small industry

Rs2 billion has been cleared to revive small industry, according to The Express Tribune, which calls the sector a key pillar of the economy that has nearly disappeared from the country. The money is earmarked for approved interventions under a revamp plan for the Small and Medium Enterprises Development Authority (Smeda), a plan the prime minister has signed off on.

The Ministry of Industries and Production told the Economic Coordination Committee (ECC) that the prime minister has endorsed a scheme to reshape Smeda into a more agile body focused on growth and productivity. Funds of Rs2 billion were already set aside for financial year 2026-27 through the annual budget, backed by a cash plan with targets for each intervention. Because the amount had to flow through a technical supplementary grant, the committee's approval was needed, and that approval has now been given.

A dedicated assignment account has been opened at the NBP main branch in Lahore, under the sub-office of the Accountant General Pakistan Revenues, to keep spending transparent and purpose-specific. The Finance Division had agreed to the release, and a draft of the summary went to it for feedback.