Malik Khuda Bakhsh, president of the Pakistan Business Forum (Karachi Region), has welcomed Punjab Chief Minister Maryam Nawaz Sharif’s efforts to simplify the Easy Business Finance and Easy Business Card Scheme, calling them positive steps for the SME sector.

He stated that just as the Punjab government is taking initiatives to provide loans to entrepreneurs as per their needs, the federal government should also provide easy loans to small and medium-sized business owners.

Malik Khuda Bakhsh said that encouraging new entrepreneurs to establish business units will help spread a network of small industries in the country and create employment opportunities for educated and skilled individuals.

Malik added that if easy loans are provided to eligible individuals for businesses such as EV charging stations, transport, pharmaceuticals, grocery stores, medical stores, cosmetics, hosiery, garments, fruits, and other sectors, the unemployment rate in the country can be reduced.

He also proposed to Finance Minister Muhammad Aurangzeb that those taking their first steps toward starting small businesses should be given complete tax exemption in the upcoming federal budget so they can establish their businesses and later contribute to national tax revenue.