Special Assistant to the Prime Minister (SAPM)/Chairman Board of Investment Dr Miftah Ismail said that BoI has established facilitation centers in Islamabad and provincial capitals Lahore, Karachi, Peshawar and Quetta to generate more employment opportunities and to encourage entrepreneurs.
Under the vision of Prime Minister to generate more employment opportunities and to encourage entrepreneurs, Board of Investment has established facilitation centers in Islamabad and provincial capitals Lahore, Karachi, Peshawar and Quetta, said Dr Miftah Ismail.
He was talking to the media regarding progress on this initiative of BoI. “Pakistan’s small, micro and medium enterprises are informal units. This part of the sector turns out much of the country’s private output and accounts for the largest portion of its jobs. However, it remains financially constrained, with little access to infrastructure, lack of knowledge regarding modern technology, disadvantaged when dealing with labour, and with virtually no ability to influence the policymakers”, said by SAPM/Chairman BoI.
He further mentioned that the contribution of SMEs to Pakistan’s economy, employment and poverty reduction can be seen from the fact that 90pc of all private sector manufacturing units employ less than 99 workers and the SMEs employ some 80pf of non-agricultural labour force. They contribute about 40pc to GDP and generate 25pc of exported manufacture.
So we have decided to start these facilitation centers to help this large segment of entrepreneurs to set up their businesses on a fast track basis and supporting them in starting a business dealing with construction permits, paying taxes, trading across borders and enforcing contracts, he apprised. While talking to the media, he further said that hundreds of complaints and requests are received to the facilitation centers of BoI. Our facilitation centers have registered the issues of SMEs regarding lack of proper infrastructure un-skilled manpower shortage of finances access to the utilities, district police issues taxation issues competition acquiring of land getting NTN etc. necessary instructions regarding the concerned departments were given to resolve the issues of SMEs.
In reply to a query, he said that in addition to establishment of facilitation centres, BoI in consultation with Finance Division, FBR, SECP and EOBI including provincial governments have developed an implementation plan under Phase-I for investment facilitation and business improvement to simplify the procedures and to reduce the time/ cost for improvement of business climate in Pakistan,
In the world where SMEs have done well, it has been possible with institutional support for: (i) improving business environment, (ii) strengthening of support system;(iii) provision of institutional credit; (iv) facilitating technical and management skills; (v) fiscal concessions; and (vi) designing of an effective legal system.
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