SMEs play key role in economic turnaround

The Secretary Industries Punjab, Irfan Ali has said that the development of Small and Medium Enterprises (SMEs) through a well-co-ordinated and well-tailored mechanism would be given priority as SMEs have a key role in economic turnaround. The Secretary Industries was speaking at the Lahore Chamber of Commerce and Industry on Saturday. LCCI President Farooq Iftikhar, Senior Vice President Irfan Iqbal Sheikh, Vice President Mian Abuzar Shad, President Quaid-e-Azam Industrial Estate Board M I Khurram and former president Sheikh Muhammad Asif were also present on the occasion.
The newly appointed secretary said that development of local brands and human resource would be the most important factors to strengthen the SME sector that had been facing multiple challenges for the last five years. He said that liaison with the Lahore Chamber of Commerce and Industry would further be improved and he would have monthly meeting at the LCCI to listen to the problems being faced by the business community.
He said that the present government was alive to the issues being faced by the private sector and is doing the needful at jet speed to overcome them. He said that there was no doubt in it that an acute energy shortage and law and order situation kept the economy hostage in the last five years but since the Punjab CM has a clear vision on economic issues therefore their solution would be found soon.
The secretary Industries, however, urged the business community to prepare collective recommendations to give boost to economic activities and the government would not make any delay in implementation of all doable proposals. Speaking on the occasion, the LCCI President Farooq Iftikhar called for revolutionary reforms to put the economy back on rails. He urged the secretary Industries that all the stakeholders should be taken onboard while preparing industry-related policies. He said that the Industrial Estates should be exempted from load shedding of gas and electricity completely as the industrialists are unable to meet targets.
He said that undue interference of Social Security Department, EoBI and Labour Departments are some of the many predicaments. Instead of providing facilities or incentives, the industrialists are being harassed by these departments, which is matter of grave concern.
Calling for establishment of more technical institutions, the LCCI president said that the present number of technical institutions is not competing with the fast growing population of the province. He said that the business community understands that the direction of the present government is correct and its seriousness on business issues would definitely yield positive results.