Pakistan’s economy has experienced many ups and downs since its independence. The trends in the economy have been changing in the last few decades as the economy has shifted emphasis from agriculture to small and medium-sized businesses. The development in this part of the economy was parallel to the high rate of urbanization. As more and more people shifted to the cities, the economy became more urbanized and more emphasis was placed on the development of SMEs.
Many government reforms have been introduced in the past which targeted this sector but they lacked implementation. Small and medium-sized businesses are the backbone of a modern urban economy as they provide the highest level of employment in the region. State institutions like banks and other microfinance institutions are expected to facilitate small and medium-sized businesses. Such policies will help revitalize the SMEs and help generate employment and economic growth in the country.
Iqbal Institute of Policy Studies has organized a webinar on the topic, Revitalizing the Small and Medium Enterprises of Pakistan (SMEs). The webinar will discuss and analyze the state of SMEs in Pakistan and suggest solutions and recommendations for its improvement.