Women Business Owners to be Given Tax Exemption Under SME Policy

Small and Medium Enterprises Development Authority (SMEDA) General Manager (GM) Nadia Jahangir Seth told the Standing Committee of the National Assembly on Industries and Production on Tuesday that any business owned 100 percent by women would be given a 25 percent tax exemption under the SME policy. The meeting of the committee, chaired by Syed Ghulam Mustafa Shah, was briefed on the SME policy by officials from the Ministry of Industries & Production (MoI&P). SMEDA GM informed the committee that under the SME policy training has been provided for the e-commerce sector. Secretary MoI&P, Imdadullah Bosal, said that a lot of work still needs to be done on the SME policy. MNA Saira Bano raised the issue of the sale of sub-standard vehicles at high prices of Rs. 7 million to Rs. 8 million. The Secretary MoI&P said that vehicles of MG Motors were commercially imported hence the Ministry had no say in the matter. The Secretary added that the matter of imported vehicles falls in the domain of the Federal Board of Revenue (FBR) and that the committee should discuss the matter with FBR officials. The committee chairman asked the question be put before the Standing Committee on Finance.