‘SMEs to combat major challenges’

Islamabad : The Small and Medium Enterprises (SMEs) are the backbone of Pakistan’s economy, contributing 40% to GDP and 30% to exports, yet they continue to battle major challenges, says Nasir Mansoor Qureshi, President of the Islamabad Chamber of Commerce and Industry (ICCI).

In a discussion with visiting business leaders, Qureshi highlighted critical roadblocks limited financing, outdated technology, and lack of skilled human resources stressing the need for targeted solutions to boost productivity and competitiveness, said a release issued here on Saturday. He urged the Small and Medium Enterprises Development Authority (SMEDA) to focus on youth employment and accelerating economic growth.

“ICCI is dedicated to working alongside government bodies to build a business-friendly ecosystem,” he added. To fuel innovation, Qureshi announced ICCI''s plan to launch a cutting-edge Research and Development Centre in collaboration with top universities.