Unrecognised: SMEs continue to remain neglected
Chamber chief seeks incentives for small enterprises
Chamber chief seeks incentives for small enterprises. PHOTO: ONLINE
MULTAN:
Speaking about the plight of small and medium enterprises (SMEs), Multan Chamber of Commerce and Industry (MCCI) former president Khawaja Muhammad Usman said the industry has long been suffering due to government’s indifference, which is one of the prime reasons behind unemployment in the country.
He said this while speaking at a seminar on the revival of SMEs. Usman said the basic aim was to strengthen the middle class and lower middle class of the working society in the country. “India has enhanced this ratio up to 50% in the last 20 years from 25%.”
The SME sector has sought a special incentive package for its revival as well as for the strengthening of economy.
MCCI President Fareed Mughis Sheikh demanded that the SMEs, which were playing a vital role in Pakistan’s economy, should be given special incentives in the next budget.
He said the sector should also be taken on board for resolving the energy crisis and it should be provided interest-free loans. He claimed that the energy crisis could be overcome in days and not years if the country focused on producing solar energy.
He called on the government to implement its tax policies thoroughly in order to multiply the revenue collection.
He believes that without protecting the SMEs, the economy would not grow and called them the backbone of Pakistan’s economy that provided a large number of employment opportunities in every field.
Sheikh said it was the prime responsibility of the government to facilitate and offer favourable environment to the SMEs by means of developing the intellectual infrastructure.
Participants of the seminar pointed out that in a developing country like Pakistan SMEs played a vibrant role in enhancing the economy. The growing tendency to create SMEs would have a direct impact on the economy, as it manipulated large investments from all over the globe, they said.
Published in The Express Tribune, May 13th, 2016.
Speaking about the plight of small and medium enterprises (SMEs), Multan Chamber of Commerce and Industry (MCCI) former president Khawaja Muhammad Usman said the industry has long been suffering due to government’s indifference, which is one of the prime reasons behind unemployment in the country.
He said this while speaking at a seminar on the revival of SMEs. Usman said the basic aim was to strengthen the middle class and lower middle class of the working society in the country. “India has enhanced this ratio up to 50% in the last 20 years from 25%.”
The SME sector has sought a special incentive package for its revival as well as for the strengthening of economy.
MCCI President Fareed Mughis Sheikh demanded that the SMEs, which were playing a vital role in Pakistan’s economy, should be given special incentives in the next budget.
He said the sector should also be taken on board for resolving the energy crisis and it should be provided interest-free loans. He claimed that the energy crisis could be overcome in days and not years if the country focused on producing solar energy.
He called on the government to implement its tax policies thoroughly in order to multiply the revenue collection.
He believes that without protecting the SMEs, the economy would not grow and called them the backbone of Pakistan’s economy that provided a large number of employment opportunities in every field.
Sheikh said it was the prime responsibility of the government to facilitate and offer favourable environment to the SMEs by means of developing the intellectual infrastructure.
Participants of the seminar pointed out that in a developing country like Pakistan SMEs played a vibrant role in enhancing the economy. The growing tendency to create SMEs would have a direct impact on the economy, as it manipulated large investments from all over the globe, they said.
Published in The Express Tribune, May 13th, 2016.