Pin­ning hopes on SMEs

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chunks in the SMEs sec­tor. Other fac­tors in­clude a lack of re­search for de­vel­op­ment of prod­ucts in line with mar­ket de­mand, weak mar­ket­ing of prod­ucts, and a dearth of cus­tomers.

Many non-cer­ti­fied pro­fes­sion­als in cot­tage in­dus­tries in Pak­istan have de­vel­oped un­match­able qual­ity car­pets, ralli ( made of colour­ful pieces of left­over cloth, which is used as bed wear and/ or blan­ket), and Pe­shawari chap­pal (san­dal), etc. How­ever, the man­u­fac­tur­ers lack ca­pa­bil­i­ties to mar­ket their prod­ucts glob­ally,

A sur­vey con­ducted by the Man­ama-based Gen­eral Coun­cil for Is­lamic Banks and Fi­nan­cial In­sti­tu­tions, re­vealed that Is­lamic banks, in Asia, have put SME fi­nanc­ing on top of their agenda, while con­ven­tional banks across the world have high­lighted SMEs as the sec­ond-largest rev­enue gen­er­at­ing sec­tor for them.

The State Bank of Pak­istan in its re­port said the SME sec­tor con­trib­utes around 30 per cent in GDP. The sec­tor em­ploys more than 70 per cent of non-agri­cul­tural work­force and con­trib­utes 25

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