ISLAMABAD, OCT 16 /DNA/ – President of the Islamabad Chamber of Commerce and Industry (ICCI), Mohammad Zikria Akbar Zia, has stressed the need to place Small and Medium Enterprises (SMEs) at the centre of Pakistan’s economic development strategy, saying that a strong SME sector is vital for accelerating industrialisation, generating employment and increasing exports. He observed that SMEs could play a greater role in expanding domestic manufacturing, promoting entrepreneurship and strengthening Pakistan’s economic base if supported by a consistent and growth-oriented policy framework.
He expressed these views while interacting with visiting delegations of business representatives at the Chamber House. The discussions focused on the challenges facing SMEs and the measures required to unlock their potential as an engine of economic activity and private-sector growth.
The ICCI President called for a comprehensive review of policies affecting small businesses, particularly in view of rising energy and production costs, complex taxation procedures and regulatory constraints. He emphasised the need to promote local manufacturing, encourage value addition and create a more predictable business environment in which enterprises can expand their operations. He added that greater support for women and young entrepreneurs would help broaden economic participation and develop new avenues for enterprise and employment.
Senior Vice President Mohammad Ashfaq Hussain Chatha focused on the financial and administrative barriers restricting SME growth. He emphasised the need for affordable credit, easier access to working capital and financing products tailored to the requirements of small businesses. He also called for simpler tax compliance procedures and more effective institutional coordination to reduce the operational burden on enterprises and enable them to direct greater resources towards production and expansion.
Vice President Mohammad Waqas Khan highlighted the importance of technology adoption and access to new markets for improving SME competitiveness. He said that digital platforms, e-commerce and modern business management tools could help small enterprises streamline operations, connect with customers and explore business opportunities beyond traditional markets. He stressed the need for skills development, digital literacy and export-readiness programmes to prepare SMEs for international competition and enable them to integrate into global value chains.
