Business

Meeting: ‘SME sector has growth potential’

The small and medium enterprise (SME) sector of Pakistan has the potential to grow at much faster pace

APP October 11, 2017

The investment initiative comprises three professionally managed investment funds that will provide equity capital for Pakistan’s dynamic and fast growing small and medium businesses. PHOTO: FILE

FAISALABAD: The small and medium enterprise (SME) sector of Pakistan has the potential to grow at much faster pace, and making its products global can help the country earn billions, said Expandeers Global Network Germany CEO Michael Fisher Reinhard. While addressing a meeting of the Faisalabad Chamber of Commerce and Industry (FCCI), he said that Europe is the third biggest and sustainable economy of the world. He said that Pakistan should also encourage its SME sector to contribute its role not only in the domestic but also in the international markets. Terming the textile industry as the backbone of Pakistan’s economy, Reinhard said, “Its share in GDP is 8.5% while this sector is also contributing 38% share in job creation.” He stressed switching to e-commerce and digital marketing instead of selling products at a low profit to major international buyers.

Published in The Express Tribune, October 11^th, 2017.

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