KARACHI: Senator Abdul Haseeb Khan said on Wednesday that the biggest hurdle in boosting Small Medium Entrepreneurship (SME) sector was finance and banks were responsible for not facilitating small businesses with loan.
This he said while addressing SME Senate The Business Development Conference, organized to mull possible scope and how to boost economy on the basis of Small Medium Entrepreneurship (SME) at The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) head office Karachi by Commissioner Karachi Office and Mass Human Resource Services.
Haseeb said that Pakistan has great talent which needs to be groomed. They were Pakistanis who built up Dubai.
“History proves that those who got International Monetary Fund could not be self-reliant. We need to get out of this situation now through encouraging small businesses which would not just help create jobs but also boost economy,” he said.
MNA Syed Ali Raza Abidi said that internationally, IT was being used widely, as businesses were being done online. What we needed was the proper usage of IT. We could use OLX and Facebook for marketing our local businesses for free. He also announced that PayPal was going to be introduced very soon in Pakistan in order to bridge gap between business to consumer (B2C).
Giving example from his own life, he said: “I started my business of seafood and advertised it on Facebook and on e-papers and today he can see a clear difference of its e-marketing as my business grows rapidly.”
Former president Rotary Club Farooq Dadi said that large industries needed bulk amount of water, power and gas which we were lacking, so there was no harm if we started from SMEs to larger industries. He also gave examples of China and Japan how they grew from small businesses to larger industries. Even India offered 30% rebate to mini industries and got multi-fold growth in economy.
CPLC chief Ahmed Chinoy said that success of any country’s economy is based on SMEs which contribute to large industries.
Talking on one of the most feared issue being faced by businessmen these days i.e. extortion, he said that hunger and unemployment gives rise and strength to crimes.