The Business Initiative Leading Development (BUILD) has urged the newly formed government to provide targeted policy support for micro, small, and medium enterprises (MSMEs), identifying them as the backbone of the economy.

In a press statement issued today, the public-private dialogue platform stressed the importance of simplifying licensing processes and ensuring easier access to finance for small business owners.

Formalising the informal sector through digital integration and simplified regulatory compliance is essential for inclusive economic development, BUILD Chairperson Abul Kasem Khan said in the statement.

Noting that the nation has entered a new chapter, the platform also highlighted the urgency of addressing prevailing economic challenges to ensure sustainable growth and private sector resilience.

It further stated that the immediate priority for the new administration should be the restoration of macroeconomic stability. This includes managing inflation, ensuring a stable foreign exchange regime, and improving liquidity within the banking sector.

BUILD said a stable economic environment is the primary prerequisite for regaining investor confidence and sustaining industrial productivity.

The platform also called for accelerating reforms that reduce the cost of doing business.

With the upcoming challenges of graduating from least developed country (LDC) status, it emphasised the need for streamlined trade procedures, rationalised tariff structures, and the removal of regulatory bottlenecks.

Attracting both domestic and foreign direct investment (FDI) must remain at the heart of the national economic agenda to create employment and diversify exports, it added.

Since 2011, BUILD has served as the secretariat to the Private Sector Development Policy Coordination Committee (PSDPCC) at the Prime Minister’s Office.