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- First gdb MGT401 Financial Accounting 23 October 2012.............Do you think the efforts made by the Government of Pakistan to boost the SMEs sector are in the right direction?Discuss
Although many steps have been taken by government of Pakistan for the promotion SME sector e.g. initialization of SME policy development, Industrial Information Network, Industry Support Program and founding of institutions on provincial bases. And there has been some success on limited bases like the awareness-creation role (cluster-development) of the project has been particularly important, and achieved considerable success.
yet there is lot need be done. Out of many problems, cumbersome procedure by Government agencies, taxation and other charges promoting lack of documentation or incorrect documentation done by SME entrepreneurs, inconsistent government policies discouraging entrepreneurs to develop long-term vision, lack of formal technical education, non-internalization of new technologies, lack of basic infrastructure, finance, marketing etc. and most important of all, these factors discouraged commercial banks to extend financing to SME sector especially when specialized Government institutes such as SBFC, RDFC etc. failed to be feasible. Such circumstances shows that path chosen by the government for the development of SME sector but it will go on wrong direction if the above mentioned would not be seriously considered and sort out by the government of Pakistan.
The speakers here at an initiative meeting of "Policy dialogue on Small and Medium Enterprises of Pakistan and the effectiveness of Small and Medium Enterprises development Authority "SMEDA" stressed the need for promotion of SMEs to spur economic growth, boost exports, besides creating employment opportunities to the people for the prosperity of the country. The policy dialogue was jointly organized by Islamabad Chamber of Commerce and Industry (ICCI) and SMEDA. Former Finance Minister Dr.Salman Shah, President of SMEs, Rahmat Ullah Javid and President of ICCI Zahid Maqbool also spoke on the occasion. Rahmat Ullah Javid said that small enterprises are plying important role in the generation of employment opportunities to the people besides contribution to the exports of the country. He said that government was taking measures to promote this sector for the progress of the country.
He also stressed the need for taking further steps to boost this sector to create more job opportunities to the people besides enhancing exports of the country. Former finance minister Dr Salman Shah called for promoting SME sector for spurning the economic growth and boosting exports in the country. He told the participants that Ministry for Industries and the World Bank are taking initiatives to promote and develop the SME sector of the country. He further said that SMEs are contributing significantly towards the country's GDP and provides most of the jobs in the country. Highlighting the objectives of the meeting, he said that its main purpose is to find out grassroots problems of small and medium enterprises sector and suggest solutions to address the problems. Earlier, President of Islamabad Chamber of Commerce Zahid Maqbool lauded the efforts of government for the conservation of energy n the energy conservation of energy in the country.
"We are supporting government at every step in this regards", he remarked. He urged the government to ensure supply of power for thirteen hours to the markets during the business hours. He expressed the hope that due to these steps government would be able to overcome the energy crisis in the country.
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