SMEs can ensure rapid economic development

Islamabad

Islamabad Chamber of Small Traders on Sunday said Government’s focus on SMEs uplift can ensure rapid economic development which will resolve many problems including unemployment, reduced exports and dismal revenue situation. All the SAARC countries too have designed policies for the promotion of this sector, though with uneven results. Yet their faith in SMEs is ever growing, it said.
The business community of Islamabad will push the authorities concerned to take steps for swift development of the SME sector, said Patron Islamabad Chamber of Small Traders Shahid Rasheed Butt. In a statement issued here today, he said that authorities will be asked for special incentives to revive the SME sector which will boost businesses, provide jobs and enhance revenue.
Shahid Rasheed Butt said that the SME sector has 40 percent share in the GDP while it is behind 30 percent exports while it is employing millions of people across the country. He said that among 3.5 million SMEs in Pakistan, 65 percent are located in Punjab facing multiple problems.—PR

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