Promotion of SME sector stressed

Islamabad : The Islamabad Women's Chamber of Commerce and Industry (IWCCI) on Thursday said Small and Medium Enterprise (SME) sector should be promoted to ensure rapid economic development.

The SME sector has a 30 percent share in GDP, 25 percent share in exports of goods and 80 per cent share in non-agricultural jobs but it is facing many problems with financing on the top of the list, it said. Many governments and the State Bank has tried their best to promote the SME sector but the initiatives remained unsuccessful due to lack of interest by the commercial banks, said Farida Rashid, President IWCCI.