INP-WealthPk
Commonwealth Entrepreneurs Club Striving for Facilitating Pakistani SMEs
February 24, 2022
By Faiza Tehseen
ISLAMABAD, Feb. 24 (INP-WealthPK): The Commonwealth Entrepreneurs Club (CEC) is making efforts for developing small and medium enterprises (SMEs) in all Commonwealth countries and furthering their links with the Pakistani trade community.
Mobeen Rafique, founder and Chairman of CEC, said this at a ceremony at Islamabad Chamber of Commerce and Industry (ICCI) on the occasion of signing of an agreement between the CEC and ICCI to promote mutual cooperation. President of ICCI Shakeel Munir has been assigned as the international envoy of the CEC.
In his address, Mobeen Rafique said the CEC is striving for a new SMEs development chapter in Pakistan. He said the CEC is working on projects which will help in alleviating poverty, bringing new economic stimulation and paving the way for socio-economic stability. He said he is working hard to interlink more than 50,000 SMEs belonging to all Commonwealth countries.
“It will help in making the trade easier. Doors towards new markets will open with improved coordination,” he said.
Shakeel Munir said while talking to WealthPK that the agreement will help in promoting coordination among SMEs.
“The technology transfer to Pakistan and promotion of its domestic exports is also the part of agenda. Young entrepreneurs, especially women entrepreneurs, will be focused to be an active part of the economy,” he said.
Shakeel Munir said this step will prove to be a new ray of hope for the betterment of Pakistani SMEs. “It will not only help promote domestic business, but also improve the level of exports. SMEs development is important to bring economic revolution. Pakistan can get rapid development by bringing positive changes in SMEs sector,” he said.
Muhammad Ajmal Baloch, Chairman All Pakistan Traders Association, told WealthPK that mostly the small traders or SMEs take interest in exploring such opportunities.
“Unfortunately, this type of meetings is usually held at larger platforms and small traders/SMEs remain unaware about such opportunities. It is important that such forums are held openly to benefit the SMEs,” he said.
Baloch said both the ICCI and CEC must coordinate with Small and Medium Enterprises Development Authority (SMEDA) and other government channels. “It will help share the message towards the truly targeted persons. Otherwise, all the said discussions remain on table, time passes and the worthy people remain deprived,” he said.
Development and promotion of SMEs is the focal chapter of Pakistan’s Vision 2025 agenda. Such positive business steps are important to uplift the potential of SMEs sector. Pakistan’s economy is called the economy of SMEs. Pakistan has at least 5.2 million SMEs. They contribute almost 55% to gross domestic product (GDP) and a large part of employment in all developing economies. Pakistan is in dire need to improve this sector. If Pakistani SMEs get access to new markets, they will get opportunities for rapid growth.
