"Changing World Economic scenario is demanding a special attention and promotion of Small and Medium Enterprises (SMEs) to overcome the problems of poverty, unemployment and illiteracy, but government has not paid any special attention to this sector in the federal budget for next fiscal year".
This was stated by Samina Fazil, President, Rawalpindi Women Chamber of Commerce and Industry (RWCCI) here on Saturday, while talking to reporters at her office.
She said that this sector had a capacity to change the economic scenario of the country in a way to lessen the burden of government. "We must look into the countries which have successfully improved the SMEs and have attained economic stability and prosperity", she remarked.
Samina said that SMEs put positive impact on socio-economic structure of a society besides improving the living standard of people. She said, it was high time to focus and concentrate on the development and promotion of this sector.
She noted that more than 54 percent people were attached with this sector while only 9 percent were employed in large-scale industries.
She said that there were approximately 220,000 SMEs in Pakistan, providing employment to over 80 percent of the labour force and added that it contributed more than 50 percent to GDP by manufacturing products to meet the demands of local and regional markets. SME sector contributed more than 50 percent towards export earnings through both direct and indirect exports, she added.
Government paid no attention towards the promotion of this sector and encouraging people to establish the SMEs. She urged on government to take concrete measures in order to promote this sector.
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