HYDERABAD:The President Hyderabad Chamber of Small Traders and Small Industry Muhammad Altaf Memon while welcoming the policies announced by the Prime Minister Imran Khan for Small Medium Enterprises, termed it as a best initiative to boost up the SMEs, the key pillar of the country’s economy.
While referring to the example of Grameen Bank in Bangladesh, in a statement issued here on Tuesday, the HCSTSI President said that small businessmen of this community received loans with the concept of micro credit and microfinance and boosted the economy of their country at a fast pace. In Pakistan, he said that no government in the past had given attention for promotion of SMEs as being granted by the present PTI government which is highly commendable. The SMEs are an important pillar of the economy of the country and the efforts of the PTI government for addressing issues of small businessmen in getting loans would definitely improve the economy of the country, he added.
However, the HCSTSI President said that the government and the banking sector should review the terms and conditions of granting loans to SMEs so that small businessmen could not face any inconvenience while approaching banks for grant of loans. He also welcomed the $500 million investment from Overseas Pakistanis in different projects of the country and said that it will not only improve the economy of the country but also open opportunities for countrymen to get jobs.