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FAISALABAD: Small and Medium Enterprises Development Authority (SMEDA) will help SME sector to adopt successful business model to give a quantum jump to the industrial production with a focused approach to enhance innovative and diversified exports, said Engineer Muhammad Aamir Qureshi Consultant SMEDA.

He was addressing an awareness session in the All Pakistan Bedsheets and Upholstery Manufacturers Association (APBUMA) here today. He said that Pakistani exports are entirely dependent on textile which is 65% of its total exports whereas in other countries the share of textile is hardly 2.5%. Other countries have successfully diversified their export base to absorb any untoward economic shock or upheaval.

He said that in order to facilitate the SME sector, the government has launched an innovative scheme to encourage individuals or SMEs with limited financial resources. He said that entrepreneurs including women up to the age of 50 years could get a grant of Rs 0.5 million to start their own businesses in which they have already experience or expertise.

He quoted examples of various countries who have captured the global markets and said that Japan just within 10 to 15 years after World War-II excelled in industrial production and its products were ruling the global economies. However, now this edge has been shifted to China because the Japanese Labor was costly whereas in China it was cheaper and Chinese were competent enough to produce world class products.

He said that 96% of people do not complain of defective products. "Only 4% who pinpoint such discrepancies must be appreciated as they are the well wishers of the manufacturer because their identification helps manufacturers to remove the discrepancies and further improve the quality of the products", he said.

He said that we must encourage renewable energy resources to save the world from horrifying climatic changes. He also underlined various techniques to start innovative businesses and said first comers always earn hefty profit and hence young and talented entrepreneurs must prefer innovative products instead of following the traditional course. He also advised them to aggressively use social media for the promotion of their products.

Earlier, Arif Ihsan Malik, Central Chairman APBUMA, introduced his organization and said that it was the largest elected body of the SME sector across the country.

He said generally such associations have two main objectives; the first is to resolve the issues of its members and second is to educate them to adopt innovative business techniques to excel in their businesses.

He welcomed the participants as well as consultant from SMEDA and hoped that the participants will avail from this opportunity and try their optimum best to switch over to the innovative businesses instead of following the traditional market trends. Imran Mehmood Sheikh Senior Vice President Faisalabad Chamber of Commerce and Industry was also present during this session.

Copyright Business Recorder, 2021

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