Businessmen recognise role of central bank in development
\nNew policy should support whole SME sector: Mian Zahid Hussain<\/p>\n
(August 17, 2020)
\nPresident Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance and former provincial minister Mian Zahid Hussain on Monday lauded the personal interest of Prime Minister Imran Khan in strengthening the SME sector.
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\nThe business community supports the move of the government and acknowledges the efforts of State Bank of Pakistan in the connection, he said.
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\nMian Zahid Hussain said that SME sector holds 40 percent share in GDP, provide 80 percent jobs outside agriculture but the majority of SMEs are undocumented which deprives them of benefits of soft loans.
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\nTalking to the business community, the veteran business leader\u00a0said that SMEs have to borrow costly loan from the market which increase the cost of doing business and create other problems, therefore, the bank check of any SME should be considered as collateral
\nup to five million rupees.
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\nThe former Minister noted that SMEs lack research and development as well as
\nmarketing techniques which call for urgent intervention.
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\nHe said that many steps were taken to revive this important sector which includes
\nestablishment of SME bank and SMEDA but it proved to be a wastage of time and
\nresources but now the PM is serious about the development of this sector which may
\nprove fruitful.
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\nHe said that a new SME policy according to the ground realities should be announced as
\nthis sector comprises of eight hundred thousand industrial units, twelve hundred thousand
\nservices outlets and eighteen hundred thousand shops.
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\nThe present government allocated Rs745 million for the development of this sector soon
\nafter coming to power but to no avail. He said that the new SME policy should be
\nfocused on all the sectors and not only export-related SMEs.<\/p>\n","protected":false},"excerpt":{"rendered":"
Businessmen recognise role of central bank in development New policy should support whole SME sector: Mian Zahid Hussain (August 17, 2020) President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance and former provincial minister Mian Zahid Hussain on Monday lauded the personal interest of Prime Minister Imran Khan in strengthening the SME sector. […]<\/p>\n","protected":false},"author":2,"featured_media":127540,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-139228","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n