FPCCI Organizes Interactive Session on SMEs in Pakistan Demands Grant for SMEs.

KARACHI -- Almost 90% enterprises in Pakistan are SMEs that contribute 40% in GDP, 25% in exports and 80% in non agriculture labor force. Unfortunately, 7 to 8 percent credit financing of private sectors is given to SMEs sector and most of the credit are given to corporate sector, this was stated by Shaikh Sultan Rehman Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in an Interactive Webinar on SMES in Pakistan: Challenges and Way Forward at FPCCI Head Office Karachi and Capital Office Islamabad and Regional Office Lahore through Video conferencing.

The session was attended by Former President FPCCI, Zakaria Usman, Executive Committee and General Body Members, Qaisra Shaikh, FPCCI Coordinator Women Entrepreneurs, Muhammad Ali Mian, Coordinator FPCCI Regional Office Lahore, Muhammad Asim Anis Convener and Iftikhar Ghani Vohra Deputy Convener FPCCI Standing Committee on SMEs, Rehmatullah Javed, Former Convener FPCCI Standing Committee on SMEs, Arjumand Qazi, Group Head SME Banking Pak-Brunei Investment Company Limited, Representatives of SMEDA, Nazli Abid, Former Vice President FPCCI, Doulat Ram Lohana, Wasif Majeed and Muhammad Atif Haleem Presidents Hyderabad, Jhang and Peshawar Small Chambers and Traders Association respectively. While welcoming the participants, Shaikh Sultan Rehman Vice President FPCCI highlighted the issues of SMEs including access to finance, high cost of doing business, low value addition, technological advancement, complicated tax system etc. While quoting the examples of other countries he added that SMEs are dominating in China, Taiwan, Singapore, Hong Kong and Korea in these countries and contributed more than 80 percent in their development. These countries achieved the status of industrial advanced countries or newly industrial nations just on the basis of development of SMEs sector. Pakistan should learn from the experience of these countries and formulate SMEs driven policies, he stated. He emphasized on the promotion of SMEs as it provide low cost employment. He also informed the losses to SMEs due to COVID-19 and suggested to provide collateral free loans upto Rs. 0.5 million to SMEs on easy conditions. Moreover, those SMEs who are registered with FBR and filed returns for last three years should be give grants up to 0.5 million and directly transfer in their account. The details of account are already available with FBR. He also urged for holding training sessions for...