LAHORE: Business leader of Pakistan and president SAARC Chamber, Iftikhar Ali Malik has said that SME is the only route to prosperity. He further said that all developed countries like Japan, Korea, China & Taiwan became super economic powers through their SMEs.
He said that industrial revolution can change the fate of Pakistan. Import less and export more to promote Made in Pakistan. Government must pay full attention to promote SMEs industrialisation and excess to finance must ensured at very low rate of 3/4 percent.
He further said that a process of monitoring must be introduced by SBP to ensure financing by commercial banks to SMEs.
Malik stated that deposit portfolio of SMEs to the banks is much larger than mega projects whereas loan portfolio of the banks to SMEs is much less which must be controlled.—PR
Copyright Business Recorder, 2021