ISLAMABAD (special crosspondent) – Federal Minister for Commerce Jam Kamal Khan has reaffirmed the Government’s commitment to creating a business-friendly environment by simplifying regulations, promoting industrial development, facilitating small and medium enterprises (SMEs), and expanding Pakistan’s manufacturing base. This focus on economic structural reform follows ongoing national efforts, such as the Punjab Government Enforces Mandatory Scrapping Law for Old Vehicles to modernize industrial standards.

Strategic Meeting with ICSTSI Delegation

The Minister expressed these views during a meeting with a delegation of the Islamabad Chamber of Small Traders and Small Industries (ICSTSI), which called on him to discuss issues relating to SMEs, taxation, industrial infrastructure, ease of doing business and export promotion. The delegation welcomed the recent revision in the State Bank of Pakistan’s SME definition, describing it as a positive step that would enable more businesses to qualify for financial support and formal sector incentives.

Regulatory Reform and Digitalization

Jam Kamal Khan said the Government was committed to reducing unnecessary regulatory hurdles and modernising business processes through digitalisation and institutional reforms. He stressed that outdated procedures and overlapping regulations should be gradually removed to improve the ease of doing business and encourage entrepreneurship. The Minister said efforts were underway to simplify business registration through a more integrated and facilitative approach so that entrepreneurs could complete regulatory requirements before commencing commercial operations.

Expanding the Formal Economy

The delegation highlighted that a large segment of Pakistan’s small business community remained self-financed and often avoided formal registration due to complicated procedures, repeated audits and compliance costs. The Minister observed that expanding the tax base by encouraging voluntary documentation, instead of placing greater pressure on existing taxpayers, remained an important policy objective, similar to how LCCI and Synergia Global Partner to Boost International Business Growth through collaborative frameworks.

Industrial Infrastructure and Future Projects

Participants also called for the establishment of dedicated small industrial zones, particularly in Islamabad, equipped with essential infrastructure such as electricity, gas, water and road access. Jam Kamal Khan agreed that organised industrial estates for SMEs would improve productivity and product quality. The meeting also discussed the potential of Pakistan’s food industry, with the delegation urging the Government to establish a modern slaughterhouse in Islamabad to enhance food safety and halal export potential. The Minister also supported the proposal for a 100-acre industrial project through a public-private partnership, noting that such initiatives, alongside regional cooperation like the Pakistan and Kazakhstan Establish Joint Research Centre for Academic Cooperation, remain vital for long-term economic growth.