Experts for strengthening SMEs for economic growth

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STAFF REPORT LHR: Small and Medium Enterprises (SME) are globally considered the main engine of industrial growth, however, this potential sector has been ignored by the economic managers of the country.

“The owners of SMEs come from humble backgrounds; they know the suffering of lower and middle income groups. So these entrepreneurs work hard, innovate and achieve higher efficiencies because majority of owners are experts in their field,” said former chairman of Vocational Training Authority Mohsin Syed.

He said they nurture low skilled labor and take their skills to higher levels, adding that such improvements are not seen in giant industries.

The experts said that SMEs that are facilitated by the government during past decades through prudent policies have shown growth in Pakistan as well; citing the industrial triangle of Lahore-Gujranwala and Sialkot is an example.

Pakistans best selling television started as small enterprise. Split air conditioners, microwave, oven and refrigerator brands are also supplied by the SME sector.

The experts regretted that currently there is no clear policy to support SMEs in Pakistan and this sector is generally in trouble. Some of the businesses have closed down and many are on the verge of collapse.


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Published in: Volume 05 Issue 41

Short Link: http://www.technologytimes.pk/?p=12205