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11
Mar
2015
Cultivate Enterprises Reap The Growth

 

There is no one that can doubt the potential. There is no doubt that even in worst of scenarios we can put 4% in GDP growth.

 

It is a fact that Pakistan’s economy has been growing about 5% on average since 1947 to reach US$ 237 billion. It is far better than the growth rate of global economy and the USA’s economy for the same period. And when you compare the problems & pressures on Pakistan’s economy with other economies, so our economy have done a great job anyways.

 

But it is corruption and mismanagement that have been making our growth rates irrelevant to judge what we are.

 

Our economy has been facing core problems like corruption, mismanagement, terrorism, political instability etc. etc. for a while. Even then if government do nothing except maintaining minimum law and order Pakistan’s economy can grow 7% like a self-grown plant. If assisted properly our economy is simply a 10% plus growth case.

 

And it is not merely an optimism of a Pakistani, Goldman Sachs included Pakistan in “Next Eleven” in 2005. Next eleven are eleven countries that have high potential of becoming world’s largest economies in 21st century with BRIC (Brazil, Russia, India, and China).    

 

It is not merely a game of numbers, neither is it the game of growth in stock market, nor is it the count of big companies existing in the economy. It is rather a case of addressing where the real economy works. It is more to plan for those who have hunger and dreams.

 

Yes corruption has to be reduced, law and order has to be maintained, and terrorism need to be finished. They are the prerequisites. But economic management required focus on real country & economy than few rich (companies and individuals) and their servants.

 

The grown can walk himself, the economic policy have to assist the growing on priority. Otherwise shinny numbers won’t be able to stop the social and economic unrest in majority of the masses. The averages can come great with few holds the maximum but averages can’t feed the majority poor.                                                                                

 

Small & Medium Enterprises (SMEs) are 90% of country’s business organizations that employs 80% of non-agricultural work force. We need to turn SMEs to SGBs (Small & Growing Businesses).

 

They are actually the businesses that can serve the local communities better to create a positive scene in aggregate economy. They are the businesses that can bring real potential of the country up to the global scene. They are the businesses that works where multinational companies doesn’t. They are reliable. They are the one that are deep rooted. They are the one that shall not fly in difficulties. They are the one that will fight for the national economy. They are the one that can provide employment in localities.

 

If you see the developed world or emerging economies, small and growing businesses have been contributing a lot in value. They are even not staying small for long. They are entrepreneurships that are taking notable economies ahead rather than state facilitated employment creation.

 

What actually they need from the state other than stable political and peaceful atmosphere?

 

They merely need trust, care and concern. If you trust, provide training to polish the raw art. If you care, provide financial opportunities that can pay you back in money and value. If you have concern, provide platform to give them opportunities to promote their products and services on country and global level.

 

In order to address various problems of our country we need to focus on education and making economy a national objective. The time when people start tasting the outcome of good earnings, they will stop wasting time. And the time they will stop wasting time, they will not become a part of any activity that promotes unrest in the society.

 

It can only happen when the businesses will appear from the grassroots and grow nationally / globally. When Pakistan start having it, it will start discovering its unconventional economy. And this unconventional economy will set us on high up in the rank of nations.

 

We have a lot of room in having small and growing businesses in IT, Fashion, Services, Value added agro products, food processing and education sector. It is the responsibility of the government to promote the theme and people of Pakistan to think out of the box. Otherwise if we do not produce employers; then, chances of employment creation will go low and low.

 

As I said earlier current SMEs have to put their socks up to be SGBs and in this regard private and public sector trainers have to assist potential organizations. We need to develop 10 year’s practical plan to promote local businesses that can possibly add value in national production & services and cultivate employments for generations to come.

 

Nothing is impossible, the world is the place of endless opportunities and for God sake, Pakistan is still far better than many countries in the world. So let the hope prevails and let us not surrender our economy before terrorists, corrupts and enemies.


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Mr. Omer

Mr. Omer [1982 born] started  his professional career as a commercial / investment banker after achieving Gold Medal in Finance at master level from University of Karachi in 2006.

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