Pinning hopes on SMEs
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