23rd March 2017

Business News

Rapid national growth tied to SME development: Shahid

Latest Update: October 23, 2015 | 234 Views

Chairman of the United International Group (UIG) Mian Shahid on Friday said rapid national growth is tied to Small and Medium Enterprise (SME) development therefore this sector should be given importance.

SME sector is the backbone of the economy providing jobs to majority of the labour which has turnaround fate of many economies including Japan, Korea and Thailand, he said.

He said that out of 3.5 million SMEs in Pakistan, 65 percent are located in Punjab which are facing multiple problems like energy crisis, lack of regulatory support, incoherent laws, deficiency of market information and skilled labour.