LAHORE - Dr Shahid Javed Burki, political economist and the former finance minister, has emphasized upon enhancing ratio of domestic savings, tax collection and investments in SME sector for sustainable future development of Pakistan. It was stated by him at a seminar jointly organised by the Small and Medium Enterprises Development Authority (SMEDA) and the Burk Institute of Public Policy (BIPP) at SMEDA head office. Farhan Aziz Khawja, CEO SMEDA, delivered address of welcome on this occasion. The seminar was also addressed by other economists including Shahid Najam and Babar Yaqoob Fateh Muhammad. Secretary Industries, MD PSIC, Secretary P&D, Secretary Finance, Federal Ombudsman and a number of the government and business community representatives also attended the seminar online. Dr Shahid Javaid Burki, who was key speaker of the seminar, advised to follow the Chinese methodology of economic development for Pakistan. He told that when he made the first visit of China in 1965 it was a far less developed country than Pakistan. But, now it has become the world’s 2nd largest economy, he said. He said, “The rich opportunities available for SME development in Pakistan also need to be exploited in line with the global standards.” He termed it a great challenge for SMEDA and the government of Pakistan in the current macro-economic situation of Pakistan, but without coming up with the world markets, SMEs cannot play due role in economic development of Pakistan. Tessori vows to continue consultations with stakeholders for economic stability
He pointed out that huge population of youth and the agriculture sector were the major strengths of Pakistan, which can play pivotal role in SMEs growth. The youth should be provided with the market oriented education and training, whereas the agriculture produces should be converted into value added products in accordance with international standards of processing and packaging that will enable us to tap a number of the unexplored global markets for Pakistan’s exports. Shahid Najam, Babar Yaqoob Fateh Muhammad and the other speakers also highlighted the need of SME development by overcoming the existing challenges through conducive policy framework. They said that SMEDA should be entrusted a lead role in economic development of Pakistan through political ownership, policy stability and conducive business environment. CEO SMEDA Farhan Aziz Khawaja, in his address, thanked the guest-economists and acknowledged that BIPP is a world class institution to provide answers to the complex and wicked public policy questions in accordance with the “New Public Management” (NPM). He said that SMEDA was busy to implement a plan for capacity building of the educated youth through higher education institutes of Pakistan that will help young graduates to start SME businesses through Prime Minister’s Youth Loan Program. Shahida Raza sacrifices her life in Italy shipwreck to save son's health
The Nation, 03 Mar, 2023