Development of SME sector: 'Government wants to devise comprehensive strategy'

Project Director SKP Consultant Limited, Mustafa Zaidi has said that Small Medium Enterprises (SMEs) sector is the backbone of economy in the country and the government wants to devise a comprehensive strategy to develop the sector. He said this while speaking at a meeting held with the members of Hyderabad of Chamber of Commerce and Industry (HCCI), here on Thursday.
"We are working with SMEs Development Authority to identify challenges and opportunities for SMEs sector," he said.
"We cannot deny that the sector can play a vital role in alleviating poverty, developing economy and for rural development," he added. Of total 3.2 million businesses, 98 per cent are associated with SMEs sector, he said. Big companies in America have launched business in SMEs sector, he said, adding the government wants to develop this sector.
"We are visiting the chambers of commerce and industry to get suggestions in this regards," he said. He said that the 60 per cent of youth was being seen involved in crime activities due to decline in job opportunities because decline in business activities in the country. If sector was developed, it would increase business activities and job opportunities for youth, he said.
Senior Vice President HCCI, Turab Ali Khawaja on this occasion said that businessmen associated with the SMEs sector are facing various issues like financing and project plan etc. He urged the government to facilitate them.