LAHORE - Provincial Minister for Excise and Taxation Mujtaba Shuja-ur-Rehman has said that small and medium business enterprises are the backbone of country's economy and government will make all out efforts for the betterment of this sector. He expressed these views while addressing the inaugural ceremony of two days exhibition of SME held in collaboration with Lahore Chamber of Commerce and Industries, SMEDA, The Bank of Punjab, SME Bank and Business Support Fund, here on Wednesday. The Minister said that according to recent estimates, approximately 3.2 million small and medium business enterprises are working in Pakistan due to which millions of people are earning their livelihood honorably. He stressed the need for further promoting development activities in this field and assured that government will provide maximum cooperation in this regard. He appreciated the efforts of Lahore Chamber of Commerce for streamlining the small and medium scale enterprises on solid foundation and said that time has come to focus on this sector for its economic development. On this occasion the President Lahore Chamber Muhammad Ali told that one-day training programme "how to start and manage small business" has also been organized for small and medium enterprises so that they can run their business in better manner. He also told that exhibitions of different products are also being held under the auspices of Lahore Chamber of Commerce and it is the 7th exhibition of this programme aimed at promoting small and medium enterprises. Later, the Minister also inaugurated the exhibition and distributed prizes among the administration for excellent performance. He said despite all these figures the SME sector has not been able to realize its full potential. This sector is suffering because of a number of weaknesses, which hamper their ability to take full advantage of the opening of economy and increasingly accessible world markets. Major areas responsible for the low performance are identified as labour, taxation, trade capacity, finance and credit availability. He said the LCCI is trying to provide such a conducive environment to enhance the role of SMEs in Pakistan. He said in today's knowledge-based economy, competitive advantage will be with those countries that have the capacity to deliver fast and have innovative forms of work organizations that raise productivity. In such an environment, small and medium-sized enterprises in Pakistan have tremendous opportunities. The Chairman Lahore Chamber of Commerce and Industry Standing Committee on SMEs Rehmatullah Javed called for bridging the shortage of skilled workers in the country. He said that Small and Medium Enterprises are the bloodline of industrial power. He said SMEs provide low-cost employment opportunities and help the economy in several ways as they boost exports, reduce poverty, create jobs and enhance rural development. In European Union and North American countries, the micro and SME sector accounts for upto 70% of all job opportunities so there is a need to focus on SMEs with a new vigour. A full day training program on "How to Start & Manage Small Businesses" was also organized for the budding entrepreneurs on the sidelines of the SME Fair. The programme was designed to equip entrepreneurs (Emerging & Existing), especially from Small and Medium Enterprises (SMEs) to manage day-to-day business activities. The contents of the training programme were: The significance and scope of Small Businesses in Pakistan; Roadmap to start a successful small business; Business Plan Development; Professional management of business and Development of business strategies to manage growth of small business.