According to an announcement made by the central bank, the study covers important aspects of the fan industry including historical growth trends, composition, contribution to the national economy, supply and demand side issues, growth opportunities, accounting practices, banking and financing needs and recommendations on increasing access to finance.
The study says the most essential point for sustainable development of the industry in Gujrat and Gujranwala is to improve capacity for innovation to help the industry reach a higher ranking in the global value chain.
The study focuses on four patterns of innovation proposed by the United Nations Industrial Development Organisation which include product innovation, process innovation, function innovation and inter-departmental innovation, and emphasises the role of inter-organisational research and development departments, research centres, new and advanced technology and universities. The study recommends the setting up of a committee for developing an implementation plan with clear timelines and targets based on the strategy paper.
A seminar was also held at the SBP to share major findings of the study with banks and other stakeholders.
Speaking on the occasion, SBP Executive Director Muhammad Ashraf Khan said reliable and credible data on SME clusters was lacking in the country, which hampered banks’ understanding of SME sub-sectors’ dynamics and made them shy of lending.
In this backdrop, he said, the SBP had been collaborating with reputed research institutions and consulting firms to conduct research on key SME clusters.
Published in The Express Tribune, January 20th, 2012.
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