Participants of a seminar on 'Legal Empowerment of the Poor', here on Friday, underlined the need to bring the shopkeepers, street vendors and small family-owned businesses into the mainstream of formal economy. The seminar was organised by Karachi Chamber of Commerce and Industry (KCCI), Small and Medium Enterprises Development Authority (Smeda), and United Nations Development Programme (UNDP).
According to KCCI, its president has recently launched the 'Empowerment of the Poor - Right to do Business' programme which was jointly initiated by Smeda and UNDP, which assured support and assistance from the Chamber's platform. Addressing the participants, KCCI president Abrar Ahmad said that Karachi Chamber membership espouses all segments of the business community viz. large industries, SMEs, cottage industries, trading concerns, small traders, etc.
He said that KCCI believes in integration and expansion of SMEs network which plays imperative role to strengthen the economy. He also voiced for women empowerment and said that the Chamber had always supported the progression of micro and small and medium enterprises. In this regard, KCCI had also urged the financial institutions to provide soft loans, without collateral, to micro entrepreneurs, he added.
He said that KCCI was mindful of the lawful rights and obligations of small traders. He said that although a great number of small traders are not members of KCCI, a special committee for small traders is functioning at the Karachi Chamber to recognise their importance and to encourage them to participate in the economy with other players.
He appreciated the partnership between Smeda and UNDP for legal and social recognition of these neglected economic players termed it as "much awaited step in the right direction". Zia Ahmed Khan, Vice President, Managing Committee Members KCCI Muslim Raza, provincial chief of Smeda Sultan Tiwana, General Manager of Smeda Zulfikar Thaver, Director of Smeda and Asif Bhatti of UNDP also spoke and called for supporting micro businesses.
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