SMEs critical for Pakistan's growth during present times

Experts have emphasised the need for taking practical steps to support small and medium enterprises, which are critical for economic growth during the present challenging times.

In a public-private dialogue held on Wednesday, the experts also urged the government to target micro and small farms in both formal and informal sectors besides the inclusion of informal agri-businesses in social protection databases.

The dialogue was held to analyse the regulatory and institutional response from the federal and provincial governments of Sindh and Balochistan during Covid-19 and to help augment emergency response to revive the rural economy.

Speaking at the event, EU Development Cooperation Head in Pakistan Ovidiu Mic said research and discussions such as these were needed in order to come up with more inclusive solutions to policy issues.

Countering an unprecedented situation such as Covid-19 required public and private stakeholders to work together to align development efforts and emergency response strategies to mitigate the socio-economic impact of the pandemic, he said.

During the meeting, it was highlighted that the Growth for Rural Advancement and Sustainable Progress (GRASP) project had been adopted in response to the pandemic and a Covid-19 emergency response work plan was being implemented.

It was also highlighted that through impact surveys, awareness campaigns, and policy dialogues, the project was helping improve micro, small and medium enterprises (MSMEs) in Sindh and Balochistan.

International Trade Centre (ITC) Chief of Sector and Enterprise Development Robert Skidmore said increasing connectivity, improving primary data collection in rural areas and fine-tuning communication were some of the areas on which both public and private sectors could focus on.

A study being conducted by the Sustainable Development Policy Institute was presented in the meeting by SDPI Executive Director Vaqar Ahmed.