The Small and Medium Enterprises Development Authority (Smeda) would help the small and medium enterprises (SME) sector in adopting a successful business model, announced Smeda Consultant Engineer Muhammad Aamir Qureshi.
Speaking at the All Pakistan Bedsheets and Upholstery Manufacturers Association (APBUMA) office on Saturday, Qureshi said that the move would result in a quantum jump in industrial production with a focused approach to enhance innovation and diversify exports.
Pakistan’s exports were entirely dependent on textile, which constituted 65% of total exports, whereas in other countries the share of textile was hardly 2.5%, he highlighted.
“Other countries have successfully diversified their export base to absorb any economic shock or upheaval,” he said.
In order to facilitate the SME sector, the government had launched an innovative scheme to encourage individuals or SMEs with limited financial resources, he added.
Qureshi pointed out that entrepreneurs, including women, up to the age of 50 years could get a loan of Rs0.5 million to start their own business.
Quoting examples, he said that Japan, within 10 to 15 years post-World War-II, excelled in industrial production and its products were ruling the global economies.
“Now, this edge has been shifted to China because the Japanese labour was costly and the Chinese were competent enough to produce world-class products.”
Published in The Express Tribune, November 14th, 2021.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.
1714129906-0/Clint-Eastwood-(1)1714129906-0-270x192.webp)
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ