ISLAMABAD: Pakistan Businessmen and Intellectuals Forum (PBIF) President Mian Zahid Hussain demanded special incentives for the sinking SME sector in the upcoming budget. “The sector has a 40% share in the Gross Domestic Product and a 30% share in exports,” he said. “It employs millions and cannot be ignored as it will hurt all aspects of the economy.” Talking to the business community, he said that among 3.5 million SMEs in Pakistan, 65% are located in Punjab, while slightly over 2% are in Balochistan, which can be balanced through policy interventions. He said that law and order, energy crisis, lack of regulatory support, incoherent laws, deficiency of market information and financing requirements are the main reasons behind lacklustre performance of SME sector. He asked the banks to revisit the policy of ignoring SMEs and chalk out an implementable plan to develop the sector to reduce unemployment.
Published in The Express Tribune, May 20th, 2015.
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