Islamabad October 23 2021: Federal Minister for Science and Technology Senator Syed Shbili Faraz approves exemption of marking Fee for small and Medium Enterprises of Business Turnover up to 50 Million Rupees. In accordance with the vision and directions of Honourable Prime Minister, Ministry of Science and Technology is keen to take all steps in facilitating Small and Medium Enterprises and ease of doing business.
In the 23rd Meeting of Board of Directors of Pakistan Standards and Quality Control Authority (PSQCA) it was approved that Small and Medium Enterprises (SMEs) of Business Turnover up to 50 Million Rupees will be exempted from levy of Marking Fee and it was also decided to facilitate with reduction in the Marking Fee of more than 1500 industries (Manufactures of Compulsory products) registered with Pakistan Standards and Quality Control Authority to give them relief due to Market inflation in business to support the local industry.
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Small and Medium Enterprises (SMEs) play an important role in Economy, contribute up to 40% of national income (GDP) employing cast numbers of people and helping to shape innovation. Thus such incentive will impact on overall industrial climate, investments and jobs creation in the economy.
