Published On: Sat, Sep 14th, 2019
Published in Category: Lahore

SAARC chamber stresses need of promoting SMEs to meet economic challenges

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LAHORE: Founder Chairman Pak US Business Council and Senior Vice President SAARC Chamber Iftikhar Ali Malik Friday stressed the need of promotion of Small and Medium Enterprises (SMEs) to meet economic challenges and adopting of workable policy for upcoming entrepreneurs, easy access to credit tax rebates and one-window operation.

Talking to delegation of traders here today, he highlighted the issues of SMEs such as access to finance, high cost of doing business, low value addition, technological advancement, complicated tax system. He also shared the success experience of SMEs of Japan, Korea, Taiwan and China. He suggested easy and favourable discounted rate access of finance to SMEs, establishment of SMEs zones and clusters.

He said that the SME sector was passing through a worst time due to some measures taken by the government under the influence of IMF and called upon it to announce soon a new SME policy in order to create conducive environment for these businesses for their better promotion and growth.

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