As is obvious, small industries require far less capital as compared with large-scale industries and they can help massively in generating opportunities to overcome the problem of widespread unemployment. It is a fact that Pakistan is among those countries which have been hit the worst by natural disasters, the promotion of small-scale industry can help in achieving many objectives, in particular producing cheaper goods for the cash-strapped population of the country.
\nWith strong linkages in the domestic economy, the growth of small-scale industry is an effective operative for training centers where workers get training easily in a shorter period. If implemented in letter and spirit the recommendation of the assessment report can move the calamity hit small entrepreneurs to bigger business in future.
\nSmall industry uses relatively more labour-intensive techniques and can generate employment for the expanding labour force.
\nThe history of the country shows the small industry has specific contributions to make to economic development. In the first place, it can contribute to the output of needed goods without requiring the organization of large new enterprises or the use of much foreign exchange to finance the import of new equipment.
\nHowever, it is a matter of grave concern that the Small and Medium Enterprises Development Authority (SMEDA) latest assessment reveals that the summer rains and flash floods across the country have severely affected more than 197,658 economic establishments causing an estimated loss of US$ 5.3 billion to nationally kitty.
\nAccording to the SMEDA Chief Executive Officer (CEO) Hashim Raza, who was speaking at the launching ceremony of a report, as many as 90 districts, among them 32 belonging to Balochistan, 24 Sindh, 17 Khyber Pakhtunkhwa, nine Gilgit-Baltistan, five AJ&K and three Punjab, have been declared calamity-hit. Of the 160 districts of the country, the surveys carried out for the assessment shows that more than 33 million people or 14 percent of the country\u2019s total population felt the heat of climate induced disasters.
\nAt least 25pc of the economic establishments have been completely destroyed in the floods, whereas the rest of the SMEs suffered from a damage of over Rs1.4 billion in total because of disruption in supply chain, loss of customers, electricity disruption, roads, bridges and other transport network disruption.
\nOver 20 percent of the surveyed SMEs have an estimated Annual sales Turnover loss of Rs1.3 billion.
\nFor revival, 86 percent Surveyed SMEs have demanded Subsidized Provision of Specific Products, Inputs or Services and 57 percent Surveyed SMEs Demanded Access to new loans.
\nUnveiled in Lahore in presence of the presidents of the Chambers of Commerce and Industry from Quetta, Dadu, DG Khan and Swat via internet, the assessment called upon the governments of Punjab, Sindh, Khyber Pakhtunkhwa, Balochistan and others to immediately initiate work on new loans on low interest rate, cash transfers and subsidized provision of products, inputs or services, rental support to resume their operations.<\/p>\n","protected":false},"excerpt":{"rendered":"
As is obvious, small industries require far less capital as compared with large-scale industries and they can help massively in generating opportunities to overcome the problem of widespread unemployment. It is a fact that Pakistan is among those countries which have been hit the worst by natural disasters, the promotion of small-scale industry can help […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[11964],"class_list":{"0":"post-303941","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-editorial","7":"tag-big-opportunities"},"yoast_head":"\n