ISLAMABAD, Jun 18 (APP): Minister for Industry and Production Makhdoom Syed Murtaza Mahmood on Sunday visited Federation of Pakistan Chambers of Commerce and Industry (FPCCI).
The minister also met with President FPCCI Irfan Iqbal Sheikh and discussed ways and means to promote small and medium enterprises in the country.
Speaking on the occasion, Irfan Iqbal Sheikh urged the need of industrial development to attain rapid economic growth.
He said that industrial development will help in increase of export curtail imports and generate employment opportunities for the people.
He said that whenever we borrowed from the IMF, our GDP growth decreased instead of increasing and also become a reason for other economic hardship.
He said that present century is the century of economy and economically strong nations will rule the world.
He said that it takes time for SMEs to quickly integrate and align with larger industrial units and urged the need of proper financing and facilities to SMEs.
President FPCCI also suggested to allocating special space for SMEs in special economic zones, besides providing skilled and technical education.
He urged the government to ensure the provision of special facilities and interest-free loans to promote SMEs in rural areas to curb migration toward the major cities.
Speaking on the occasion, Makhdoom Syed Murtaza Mahmood said that government is determined for industrial development.
He said that measures are introduced in budget for industrial development in the country.