SAARC chamber stresses need of promoting SMEs to meet economic challenges

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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