Despite colossal contribution, cottage industry a neglected sector in Pakistan, says Hashim Raza

LAHORE March 03 (News Inspection) Small and Medium Enterprises Development Authority (SMEDA) Chief Executive Hashim Raza Wednesday said despite contributing 40% in the overall economy, the government is totally ignoring the cottage industry which employs 7 million people.

He expressed these views while addressing a reception in honor of the newly elected officials of Lahore Press Club and Punjab Union of Journalists. Arshad Ansari, President Lahore Press Club and Qamar Bhatti, President Punjab Union of Journalists were also present on the occasion.

Hashim Raza said cottage industry is getting  only 7% loans and this is not enough to help enhancing small level industry functioning in the country.

He further said after inking free trade pacts with different countries, the cottage industry suffered a lot as we were not prepared for it. He said the government’s focus is on big projects and the cottage industry is being ignored. “With the patronage and support of the cottage industry, exports can be further increase,” he added.

Hashim Raza said the products that are being manufactured in the cottage industry at the moment can be counted on the fingers, to compete in the global markets we have to increase the quality as well as the number of our products.

He said that in the current situation, the corporate industry is also on the verge of collapse.

“The government will have to set its own economic goals, and the public needs to be made aware of small and medium enterprises,” he concluded.

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