New Delhi, Sep 25 - The prime minister's task force on micro, small and medium enterprises (MSMEs) held its first meeting here Friday to discuss the problems of the sector and formed seven sub-groups to suggest remedial measures.

The task force reviewed the problems faced by these enterprises across the spectrum, particularly the lack of credit facilities available for small enterprises, a government statement said.

'The task force has set up seven sub-groups in the areas of credit, marketing, labour relations, insolvency and exit policy, taxation issues, infrastructure and special issues on the northeast and Jammu and Kashmir will submit their recommendations in a month's time,' the statement said.

The meeting was chaired by Prime Minister's Principal Secretary T.K.A. Nair.

The task force was created in August this year to addresses the core issues raised by MSME organisations, including stepping up credit, simplifying laws for conducting company affairs, skill upgrade, and infrastructure improvement.