CCP focuses on SMEs sector

Authority will present recommendations to govt for expeditious growth of the sector.


APP August 29, 2021
Donor organisations trying to help Pakistan face difficulties as they cannot better plan their support in the absence of timely and credible data on SMEs. PHOTO: FILE

FAISALABAD:

The Competition Commission of Pakistan (CCP) is focusing on small and medium-sized enterprises (SMEs) and it will present viable recommendations to the government for expeditious growth of the sector following consultation with stakeholders, said CCP Director General Ahmad Qadar.

Addressing the businessmen at the Faisalabad Chamber of Commerce and Industry (FCCI) on Saturday, he said that the initiative was in line with CCP’s mandate to promote healthy competition for efficient economy.

Read State Bank introduces scheme for SMEs

He underlined the importance of SMEs in overall economy and said that 5.2 million small businesses were contributing 40% to the GDP and 26% to national exports.

Similarly, 45% of the labour force of Pakistan is working with these SMEs for its livelihood, he said. “Despite the major role played by the SMEs in the economy, their access to finance through banking channels stands at just 7%,” he regretted.

He highlighted that CCP was conducting an inclusive study to ensure level playing field was provided to the SMEs. He promised to make proper recommendations to the government.

Published in The Express Tribune, August 29th, 2021.

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