Image Credits; The Biz Update
KARACHI, August 17 (Online Int’l): 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.
The business community supports the move of the government and acknowledges the efforts of the State Bank of Pakistan in this connection, he said. Mian Zahid Hussain said that the SME sector holds 40 percent share in GDP and provides 80 percent jobs outside agriculture but the majority of SMEs are undocumented which deprives them of the benefits of soft loans.
Talking to the business community, the veteran business leader said that SMEs have to borrow costly loans from the market which increases the cost of doing business and creates other problems; therefore, the bank check of any SME should be considered as collateral up to five million rupees.
The former Minister noted that SMEs lack research and development as well as marketing techniques which call for urgent intervention.
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