LAHORE, Aug 27 (ABC): The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Saturday urged the government to maximum facilitate the Small and Medium Enterprises (SMEs) and take concrete steps for enhancing exports and developing the IT sector.
SMEs are the backbone of the country’s economy and promotion of the sector would not only eliminate a gap in exports and imports but also improve an overall economic situation. FPCCI Regional Chairman Muhammad Nadeem Qureshi expressed these views in a meeting with Chief Executive Officer of the Small and Medium Enterprises Development Authority (SMEDA) Hashim Raza and Environmental Specialists of Punjab Small Industries Corporation (PSIC) Dr Shahbaz Ali Khan here at the FPCCI Regional Office.
Qureshi said that non-traditional products and new markets would have to be found to increase exports and industries should be promoted for import substitution. He also identified SMEs as the main source of reducing poverty and expanding the national economy via job creation.
However, certain regulations or interventions were required to boost the sector. Nadeem Qureshi said an industrial estate should be set up for SMEs so that they could be provided with all facilities at one place. SMEDA CEO Hashim Raza assured full cooperation in this regard and said the SMEDA was working on the Industrial Estate for SMEs. The industrialization had been done through SMEs all over the world.
For young people and women, the SMEDA had launched new schemes in which new businesses and current businessmen can participate with new projects. He added that easy loan schemes for SMEs would continue. Dr Shahbaz Ali Khan briefed the participants about the Punjab government’s loan schemes for environment-friendly small and medium enterprises projects.