Islamabad: Punjab Board of Investment and Trade (PBIT) Director Projects and Policy Sohail Qadri has suggested that institutes like the Punjab Small Industries Corporation (PSIC) and the Small and Medium Enterprise Development Authority (SMEDA) should join forces to mitigate the economic impact of the coronavirus on Small and Medium Enterprises (SMEs), according to a news source published on August 4.
Qadri made this proposal while speaking at an online consultative dialogue on ‘Better business regulation for the SME sector in Punjab Province’ – organised by Sustainable Development Policy Institute (SDPI).
He informed that PBIT was aiming to create a platform to boost SME’s capacity building services and assist them in the exploration of the global market. He also observed that the needs of SMEs should be prioritised in the relevant policies to encourage more clusters of small-sized businesses.
SDPI Joint Executive Director Vaqar Ahmed said that it was ‘need of the hour’ for Securities and Exchange Commission of Pakistan (SECP) to ease laws for SMEs and startups across the country. He said that the existing laws have no room for idle liquidity in the economy to diversify into investing in innovative firms.
Moreover, Vaqar also revealed that expatriates complain of lack of credible venture capital and policy framework in this regard. He called for SECP to revise existing facilities and regulatory framework, as it is due for an evaluation and upgrade.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
