The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) is to hold a microfinance conference on Dec 23 in Islamabad . The conference titled, “Microfinance: Transition to Small Enterprises - Focus on Entrepreneurship” would attract government officials, experts and business leaders from all across the Pakistan . According to VP FPCCI Sheikh Muhammad Ali , Small and Medium Enterprise (SME) sector is the backbone of the economy. Its development is crucial for sustained and equitable progress of the economic conditions. According to the World Bank Report, about 5.3 million SMEs are operating in Pakistan with GDP contribution standing at 40 per cent supporting millions of families. These enterprises are more vulnerable, as compared to the medium sized enterprises, to shocks such as price fluctuations in the external environment. Financial obstacles like inability to access the finance from formal financial sector have major problems in managing small businesses, he said. FPCCI will provide a unique platform to stakeholders from both the public and private sectors to work on recommendations for scaling up of small enterprises with an emphasis on promoting entrepreneurial mind-set, he said.
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Elizabeth Vargas' Husband Marc Cohn Addresses Rumors
- Apple, HP, Intel May Take a Hit from Slowdown in Smartphone Sales Growth
- Keurig Adds Peet's coffee, Alters Starbucks deal
- U.S. to Relinquish Gov't Control Over Internet
- Quiznos Files for Chapter 11
- SoCalGas Reaches Record Spend on Diversity Suppliers
- Is Malaysian Airlines Flight 370 in Andaman Sea?
- Motley Crue's Nikki Sixx Marries Model Courtney Bingham
- Vybz Kartel Convicted of Murder