‘SMEs need govt’s attention’

LAHORE: The Small and Medium Enterprises (SMEs), the backbone of the economy, needed special attention of the government during the ongoing coronavirus pandemic, a statement said on Monday.

LCCI President Irfan Iqbal Sheikh stated this, while talking to Small and Medium Enterprises Development Authority (SMEDA) Chief Executive Officer Hashim Raza at SMEDA office, it added.

Sheikh suggested that those SMEs that pay utility bills of Rs100,000 or more should be given soft loans of Rs1 million with deferred payments.

The economic revival of the country would remain a dream until and unless the government redesigns its policies and divert resources towards the SME sector; as these entities hold paramount importance in the economy.

The State Bank of Pakistan (SBP) should also ensure easy borrowing for the Small and Medium Enterprises so that they can spread their operation and play their due role for the employment and revenue generation, Sheikh added.