Karachi (Staff Reporter) President of SME Foundation Waliullah Khan said that SME sector can play an important role in ending unemployment in the country. It is one of the sectors in which the small and medium enterprises are involved in the development of the economy.
Wali ullah Khan said that the SME sector plays a key role in national development strategies, creating employment opportunities and creating social harmony by improving the quality of life of the weaker sections of the society. He said that if there is Pakistan, we are all responsible for its development and prosperity, so the government should give special importance to the small and medium businesses involved and provide incentives and other facilities.
Wali ullah Khan said that small traders can be helped by giving relief in taxes, while expensive electricity, gas and shortage of water is a major obstacle in the development of SME’s sector. He said that the country is taking a lot of steps to get rid of the economic crisis and eliminate inflation and unemployment. If the government encourages small businessmen, they can also play an important role in the development of the country.
Wali ullah Khan said that after agriculture, the SME sector is the second largest labor-intensive sector in Pakistan, which provides up to 90 percent of jobs along with agriculture to keep the workforce on its feet, while contributing to the country’s GDP. The SME’s manufacturing sector accounts for about 40 percent of this and about 25 percent of export earnings.
He said that the sustainable and long-term growth of SME’s in Pakistan is limited by several factors including unskilled manpower, poor management, lack of knowledge about operations for better profitability, resistance to change and special Waliullah Khan said that the small traders have placed a lot of hopes on the government so that the government will take steps for the improvement of the SME’s sector.
