SMEs play important role in economic stability: commerce adviser

ISLAMABAD: Adviser to Prime Minister for Commerce and Investment, Abdul Razak Dawood, on Friday said that small and medium enterprises (SMEs) play an important role for making the economy stable, ARY News reported.

Abdul Razak Dawood made the statement while addressing a session related to investment under his chair which was attended by the Board of Investment (BoI) chairman, secretary commerce and other high-level officials. The participants of the meeting held consultations over creating easiness in the businesses for the promotion of trade activities.

Read: Govt committed to ease of doing business in country: PM Imran

He said that the federal government will empower small and medium-sized industries as SMEs always play an important role in the stability of the economy. The commerce adviser noted that investment will be gradually increased after creating ease in the businesses.

Dawood reiterated that Pakistan improved 28 points in the ease of doing business’ report released by the World Bank (WB). He added that the authorities will further simply business procedures to promote investment in the country.

On September 5, Abdul Razak Dawood had said that government was taking all steps to revive sick textile units in the country.

Read: Pakistan climbs 28 ranks in Ease of Doing Business Index

“Government taking measures to attract foreign and domestic investment for new plants and operationalization of sick units of the textile sector on a competitive basis,” said Razak Dawood during a meeting with textile exporters’ delegation.

he Adviser to PM stressed upon the need to increase the existing installed capacity of the manufacturing sector to increase the industrial based economy.