KARACHI  - Developing and promoting SME sector in Pakistan is need of the hour in order to successfully meet the economic challenges being faced by the country.

This was stated by Chairman Korangi Association of Trade and Industry (KATI) Ehtesham Uddin here on Saturday.

He was addressing a training course on `Business Edge Training Methodology’ jointly organized by Business Support Fund (BSF), Ministry of Finance, and IFC (International Finance Corporation) partner, New World Concepts at KATI’s premises.

Ehtesham maintained that SME sector bears most of the burden of employment in the country and needs to be encouraged by the government.

He believed that SME sector has the potential to turnaround Pakistan’s economy.

KATI chief said that the countries like Japan have become economic power of the world by encouraging and developing SME sector whereas this area is not being duly encouraged in Pakistan despite being the major contributor in national economy.

He urged the banks and DFIs to finance SMEs on priority basis in order to strengthen the country’s economy and eliminate unemployment.

He lauded the role of BSF for encouraging and providing training to the SMEs. New World Concepts’ CEO, Yasmin Hyder, while speaking on the occasion lauded the role of KATI in providing help and assistance to the industry sector without prejudice. She said that KATI deserves all praise as being the pioneer in sharing the SME capacity building and management development programme for trade and industry  in Pakistan.

Yasmin said that KATI has taken the lead to support the launch of this valuable initiative offering world class training opportunities for the growth of businesses in Karachi.

IFC New World Concepts Trainer, Navaid Karim, in his presentation said that IFC’s partner in Pakistan, New World Concepts is working with BSF to launch Business Edge Training for SMEs sector in Pakistan.

BSF is working throughout Pakistan for fostering growth of entrepreneurs and building franchising models in Pakistan for Pakistani brands.

He further said that BSF and New World Concepts is actively supporting growth of SME sector through providing capacity building programmes.