LAHORE –There are more than 3.8 million small and medium enterprises in Pakistan covering 77 per cent of total industrial employment and contributing 40% in the annual GDP of Pakistan, and the sector also accounts for the employment of more than 21 million people, LCCI President Ijaz A Mumtaz told a two-member Korean delegation.
The Korean delegation led by Jong-Woon Kim from Hannam University, Korea visited the Lahore Chamber of Commerce & Industry. Head of Korean delegation said that they were deeply analyzing the SME Policy in Pakistan and wants to collaborate with the Lahore Chamber of Commerce & Industry.
The LCCI president said that there is no second opinion that SMEs provide low cost employment opportunities and help the economies in several ways as they boost exports, reduce poverty, create jobs and enhance rural development etc. He said that due to severe energy crisis, SMEs in Pakistan are not keeping pace with the critical minimum requirements which are needed to keep them viable and surviving.
