The Technical Working Group (TWG) of the Ministry of Industries and Production (MoIP) on Business Formalization reviewed the initial draft of the National Roadmap prepared by SMEDA in collaboration with consultants from the International Labour Organization (ILO) to facilitate the transition of informal businesses into formal economy.

The review meeting was held at SMEDA’s Head Office on Saturday, August 9. 

CEO SMEDA Mr Socrat Aman Rana highlighted that over 84pc of Pakistan’s workforce operates informally within SMEs and the home-based working sector, creating significant challenges such as limited access to markets, financing, social protection, and skills development.

Federal Secretary MoIP Mr Saif Anjum, who chaired the meeting, said the MoIP-ILO collaboration under the Enterprise Formalization Project is aimed at bridging gaps in the formalization process. He noted that informal SMEs can prosper within a formal, supportive economic framework if a conducive environment is created.

Earlier, ILO consultant Usman Khan presented the proposed National Roadmap, which includes measures to simplify and incentivize the registration of microenterprises in the informal sector.