ISLAMABAD:Chief Executive Officer Pakistan Furniture Council Mian Kashif Ashfaq Wednesday said that a stronger private sector could help Pakistan realise its economic potential.
Talking to a delegation of SMEs experts led by Nasir Hussain Chief Financial Officer ChenOne, he said that only private sector plays key role in pushing economic growth upward, generating job opportunities, providing oxygen to domestic industry besides boosting export in addition to promotion of small and medium sized enterprises (SMEs).
He said Pakistan has tremendous untapped economic potential that needs to be fully exploited through prudent key policy actions to help create new marketing opportunities, mobilise private investments to create more jobs and help the country in coping with the impact of Covid-19 on its economy.
He stressed the urgent need for reforms in the wake of pandemic impact on country’s private sector especially on SMEs that drive so much of Pakistan’s economy.
Mian Kashif Ashfaq said Pakistan can foster a more innovative, competitive and entrepreneurial economy and reinvigorate growth by addressing critical constraints that are limiting private sector investment.
He said a private sector led growth agenda needs to be equitable and benefit Pakistan’s many SMEs and also offer jobs and opportunities for the more than two million young who join the labor force each year.
Nasir Hussain said sustainable industrial revolution can be put into place in Pakistan if we unlock the hidden potential of SMEs to gear up the cottage industry across the country.
He said SMEs are playing key role in economy of all developed countries and Pakistan must accrue benefits from their practical experiences which he added will ultimately usher in an era of prosperity, progress and development throughout the country.