Federal Minister for Industry and Production Makhdoom Syed Murtaza Mahmood said that industrialization is key to success and stressed giving due attention to this important sector.
He said this while visiting the Federation of Pakistan Chambers of Commerce & Industry, meeting with FPCCI President Irfan Iqbal Sheikh, and prominent members of the business community to seek suggestions for improvement in SMEs, said a press release issued here.
Aminullah Baig, Vice Presidents Engineer MA Jabbar, Vice Presidents Mirza Abdul Rahman, Chairman Coordination Syed Asad Haider Mashhadi, Convener FPCCI were present on the occasion while Muhammad Nadeem Qureshi, Vice President Coordinator Lahore Office Muhammad Ali Mian joined through video link.
Speaking on the occasion, Irfan Iqbal Sheikh, President FPCCI said that Pakistan will not be able to stand in the list of developed nations until industrialization in Pakistan is not our top priority.
Development of industry will help in increase of export curtail imports and generate employment opportunities for our people. He said that the present century is the century of economy and economically strong nations will rule the world.
It takes time for SMEs to quickly integrate and align with larger industrial units until proper financing and facilities are not provided to them.
President FPCCI suggested that special areas in our SEZs should be allocated for SMEs.
The FPCCI recommended that the government should ensure the provision of special facilities and interest-free loans to promote SMEs in rural areas to curb migration toward the major cities.
Federal Minister for Industry and Production said that now everyone has realized that we have to think about the country and make policies that can move the country forward and he assured that many of the proposals presented in the meeting regarding the improvement of SMEs will be adopted and hoped that it will bring good results. Agreeing with President FPCCI he told that financing SMEs is a major issue and a major reason that they can’t move forward.
He said that he is fully aware that there are many difficulties have occurred in setting up an industry and the Ministry of Industries and Production is working to provide a grant of 10 billion to the SME Fund through easy financing. He told that regarding women entrepreneurs, the government has signed a 200 million dollar agreement with Asian Development, which will have far-reaching results.—APP
