Do you think the efforts made by the Government of Pakistan to boost the SMEs sector are in the right direction?Discuss
Although many steps have been taken by government of Pakistan for the promotion SME sector e.g. initialization of SME policy development, Industrial Information Network, Industry Support Program and founding of institutions on provincial bases. And there has been some success on limited bases like the awareness-creation role (cluster-development) of the project has been particularly important, and achieved considerable success.
yet there is lot need be done. Out of many problems, cumbersome procedure by Government agencies, taxation and other charges promoting lack of documentation or incorrect documentation done by SME entrepreneurs, inconsistent government policies discouraging entrepreneurs to develop long-term vision, lack of formal technical education, non-internalization of new technologies, lack of basic infrastructure, finance, marketing etc. and most important of all, these factors discouraged commercial banks to extend financing to SME sector especially when specialized Government institutes such as SBFC, RDFC etc. failed to be feasible. Such circumstances shows that path chosen by the government for the development of SME sector but it will go on wrong direction if the above mentioned would not be seriously considered and sort out by the government of Pakistan.
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