PESHAWAR  -  The PTI-led new government has been urged to focus on Small and medium-sized enterprises (SMEs) for economic development of the country.

Talking to media, Federation of Pakistan Chamber of Commerce and Industry (FPCCI) former vice president Adnan Jalil has termed the SME sector as backbone of economy.

He said that though SME is crucial sector, but in Pakistan it is not playing its due role in the economy. He said that the role of SME sector in the country is even below than our regional competitors like India, Bangladesh and Nepal.

Adnan, who has also served as member Board of Directors (BoD), SME Bank lamented the neglecting of the institution during the previous government. He said that first the bank was put on the list of privatization and removed at last stage.

He urged the Prime Minister Imran Khan for giving due mileage to SME Bank and its formal removal from the list of privatization and injecting of substantial equity to increase its existing 13 branches network to operate its branches in all big cities and mobile banking branches.

He appreciated the role of Small and Medium Enterprises Development Authority (SMEDA) for the development of the SME sector of the country and particularly in Khyber Pakhtunkhwa.

He proposed for tasking the authority to prepare short-term and long-term SME policy to stand local cottage industry, women entrepreneurs and young entrepreneurs on their own feet.