FPCCI to hold microfinance
conference on 23rd
ISLAMABAD (INP): The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) will hold a microfinance conference here on December 23. The conference titled, “Microfinance: Transition to Small Enterprises - Focus on Entrepreneurship” will be attended by officials, experts and business leaders from all across the Pakistan. Vice president FPCCI, Sheikh Muhammad Ali said that 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.
Youth Loan Scheme a right step for economic progress
RAWALPINDI (APP): Pakistan Muslim League-N leader Senator, begum Najma Hameed said that Prime Minister Nawaz Sharif “Youth Loan” scheme is a right step toward the national progress and prosperity. she urged the youth to take part in the scheme actively which is the best chance for them to run business and stand their own feet. Talking to APP, she said that youth can start their own businesses in the fileds of industry and agriculture to earn their livelihood honestly. “The government wants to empower the youth so that they can contribute effectively towards development of the country”, she added, She added Rs 100 billion had been allocated for this programme during the current financial year.
In the first phase, 100,000 unemployed youth would be given loans through ballot.
Najma said that loans would be provided without political influence and it would be given purely on merit.
She said that youth should make the scheme successful and foil the propaganda against the PML-N government by participating in it.
She said that no nation can progress without its youth force adding that youth is the real force who can put the country on the path of progress and prosperity.
GSP plus status to Pakistan to increase trade volume: RCCI
ISLAMABAD (APP): President Rawalpindi Chamber of Commerce and Industry (RCC&I), Dr Shumail Dawood has said that Generalized Scheme of Preferences (GSP) plus status to Pakistan would help increase trade volume besides boost economy of the country. He said that Pakistan had rich potential in different sectors including leather and textile. He said that there was need to exhibit Pakistani products in a proper manner at all national and international exhibitions. Talking to Pakistan Television channel, he said that Pakistani products were very famous in the South Asian Association Regional Countries (SAARC), besides Afghanistan and European markets.
He said that Pakistan gained the GSP plus status due to good governance which was improving day-by-day.
Replying to a question, he said that Prime Minister’s youth loan scheme would also help generate business activity in the country.
Dr Shumail Dawood said that Pakistan textile, leather products and mango held great potential in the different European markets. To another question he said that there was need to provide sufficient gas and energy resources to the industrial sectors so that the people engaged in the manufacturing fields could produce better results and achieve billions of dollars target for the benefit of the country.
The President RCCI said that Pakistan Muslim League Nawaz government had clear ideas and targets for generating economic activity in the country.
Cement units operating at
5-year low level
lahore (Stsff Reporter): For the last five months on average, the cement plants have been operating at lowest level of around 70 per cent recorded during last five years. Industry circles have expressed concerns that the main reason for low capacity utilization is attributed to the poor economic growth in the country. They claimed that cost of production of industry is rapidly going up due to increase in transportation cost, electricity tariff, hike in interest rates and fast pace of Pak rupee devaluation. The margins are also under pressure due to these factors. The recent hike in cement prices is also attributed mainly to additional taxes imposed by the government on cement industry.
The packaging cost has also increased due to new taxes being imposed on import of sack Kraft paper. The industry is working to open new export markets to offset the decline in Afghanistan exports.
They said that during first five months of current fiscal year, the cement industry posted a meager growth of 0.30 per cent compared with the same period during last fiscal year.
All Pakistan Chambers’
presidents conference today
RAWALPINDI (Online): Rawalpindi Chamber of Commerce and Industry (RCCI) will hold 6th all Pakistan Chambers’ Presidents Conference in Bhurban‚ Murree on Monday (December 16). The President RCCI‚ Dr. Shimail Daud Arain has said that Presidents from over 35 Chambers of the country including Karachi‚ Lahore‚ Faisalabad‚ Sialkot‚ Khyber-Pakhtunkhwa‚ Gilgit-Baltistan‚ Quetta and Mirpur will participate in the two-day conference. He said the conference will discuss and formulate plans on issues being confronted by the business community of the country.