The small and medium enterprises Act as catalyst for economic growth and development in Pakistan: Economic growth and development perspective
This paper explores the value of small and medium enterprises for the economic growth and development especially in Pakistan. Moreover, it assesses the usage of information technology in SMEs sector of Pakistan. According to the recent Census of Establishments conducted by the Federal Bureau of St...
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| Main Authors: | , |
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| Format: | Conference or Workshop Item |
| Language: | English |
| Published: |
2007
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| Subjects: | |
| Online Access: | http://repo.uum.edu.my/2462/1/Muhammad_Ishfaq_Khan.pdf http://repo.uum.edu.my/2462/ |
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| Summary: | This paper explores the value of small and medium enterprises for the economic growth and development especially in Pakistan. Moreover, it
assesses the usage of information technology in SMEs sector of Pakistan. According to the recent Census of Establishments conducted by the Federal
Bureau of Statistics (FBS) there are about 3.2 million economic establishments in Pakistan. Out of these Small & Medium sized enterprises
(SMEs) (with employment base up to 99) constitute 90% of all private
enterprises employing approximately 78% of non-agriculture labor force1.
SMEs contributed over 30% to GDP, 25% in export earnings besides sharing
35% in manufacturing value addition2. The paper suggests that SMEs act as a
catalyst to economical growth and development where IT embedded in their
operations, planning and decisions like Hong Kong, Denmark and USA.
Many other societies also place great value on the small and medium
enterprises and encourage their activity. In fact, wealth and a high majority of
jobs are created by small & medium businesses in the world. As a result,
many experienced business people, political leaders, economists, and
educators believe that fostering a robust small and medium business culture
will maximize individual and collective economic and social success on a
local, national, and global scale. It is recommended that SMEs may be offered
access to inexpensive capital, tax exemptions and management advice &
experiences and IT infrastructure which further leads toward the economical
growth & development. The economical growth and development in a country can brings happiness and prosperity to its nation. |
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