Pro­mote SMEs to com­bat ter­ror­ism: UIG

The Pak Banker - - NATIONAL -

Chair­man of the United In­ter­na­tional Group (UIG) Mian Shahid said on Sun­day Small and Medium En­ter­prises (SME) are best tool to in­crease ex­ports and rev­enue.

SMEs should be pro­moted so that it can ab­sorb in­creas­ing num­ber of un­em­ployed peo­ple which will help com­bat ex­trem­ism and ter­ror­ism, he said. He said that over 96 per­cent busi­nesses fall un­der the cat­e­gory of SMEs there­fore this sec­tor de­serves an in­de­pen­dent min­istry oth­er­wise govern­ment should in­crease al­lo­ca­tion for SMEDA which is do­ing a good job in its mea­gre re­sources.

Mian Shahid said that de­vel­op­ment of SME sec­tor is linked to the se­cu­rity sit­u­a­tion which con­tinue to drag econ­omy down since long. He said that per­cent­age of busi­nesses not fall­ing un­der SME sec­tor are joust about four per­cent which in­clude large scale man­u­fac­tur­ing that can­not sur­vive with­out SMEs.

Govern­ment and the cen­tral bank is pay­ing at­ten­tion to four per­cent busi­nesses but the sec­tor hav­ing 96 per­cent share de­serves more. SME sec­tor con­tinue to strug­gle for en­ergy, skilled man­power, en­ergy, value ad­di­tion and train­ing which cost of en­ergy is cast­ing a shadow over it, he said. Laud­ing the role of State Bank of Pak­istan, he said that com­mer­cial banks should not ig­nore this crit­i­cal sec­tor which is back­bone of the econ­omy. He said govern­ment can con­sider de­sign­ing a com­pre­hen­sive sup­port sys­tem and es­tab­lish sep­a­rate in­dus­trial es­tates for this sec­tor which was play­ing a vi­tal role for eco­nomic se­cu­rity with 30 per cent share in GDP.

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