Protecting SMEs Govt’s top priority: Dr Hafeez

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From Business Correspondent

ISLAMABAD: Prime Minister’s Adviser on Finance Dr Abdul Hafeez Shaikh has said protecting Small and Medium Enterprises (SMEs) is top priority of the government.

He was speaking at the inauguration of Secure Transaction Registry here yesterday. The Adviser said SMEs are producing just ten percent of their total capacity.

He said security registry will improve financial aides to SMEs as well as help flourish the smaller and medium industries in the country. He said the secure registry will especially benefit small industries, which have no moveable property for mortgaging. He said now the small industries can mortgage their moveable properties like machinery.

The registry has been inaugurated in collaboration between State Bank of Pakistan and Security Exchange Commission of Pakistan. Meanwhile, Dr Abdul Hafeez Shaikh also chaired a meeting to provide support and cooperation to SMEs level businesses in wake of COVID-19 pandemic.

Minister for Industries and Production Hammad Azhar, representatives of the World Bank, and other government officials attended the meeting. The meeting discussed a package for small industries, which are providing employment to at least five and maximum thirty people.

Speaking on the occasion, Dr Abdul Hafeez Shaikh said the government is determined in supporting those people, who are facing difficulties to meet the cost of their stalled businesses in testing times.

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