Small and Medium Enterprises (SMEs) are playing a vital role in socio-economic uplift and betterment of the country, Rebuild Afghanistan Industrial Fair would help to boost this sector in the country besides enhancing export volume said Hussain Ahmed Ozgen President Rawalpindi Chamber of Commerce and Industry (RCCI).
He was talking to a group of students who visited the industrial fair on the other day. The student took keen interest in local made products appreciated the quality and termed the products of international standard while visiting the various stall.
President Rawalpindi Chamber of Commerce and Industry briefed the students about the objectives of the exhibition and functions of RCCI. Besides vice president Fazal-ur-Rehman, group leader Mian Pervaz Aslam former presidents Amanullah Khan and Sh. Shabbir Ahmed other seniors executives were also present during this occasion.
Hussain Ahmed Ozgen told the students that the exhibition would help in promotion of SMEs in the region which would further help in reduction of poverty and unemployment.
President said that the SMEs were backbone of any economy and play a dynamic role in the economic development of both the developed and the developing countries as well.
He said that irrespective of industrial structures of developed countries such as United States and Germany and developing countries such as Taiwan, Malaysia and China the SMEs had acquired importance as they offer innumerable benefits to their economies.
RCCI chief mentioned that in Pakistan, there were approximately 400,000 small scale manufacturing units, 60,000 service sector units and one million retailers in the country adding up to a total of approximately two million units.
They constitute nearly 99 percent of all enterprises in the country, he said and added that the SME sector in Pakistan provide about 54 of the total employment while large scale enterprises provide only nine percent of the total employment.