Improving the Working Capital Cycle for SMEs - amazonia.fiocruz.br

Improving the Working Capital Cycle for SMEs - final, sorry

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Official sources while enumerating key steps taken since June, to improve investment climate and encouraging Pakistani investors to invest in the country on Improving the Working Capital Cycle for SMEs said Prime Minister has recently constituted a steering committee under his leadership to steer and monitor progress of reforms.

Under the umbrella of steering committee, an action plan has been initiated to improve investment climate and ease of doing business in the country. The sources said due to these interventions a lot of improvement has been made in various steps involved in business cycle, particularly for SMEs in terms of registering firm, getting construction permit, land registration, paying taxes, trading across borders, access to credit, getting electricity and contract enforcement. Pakistan is widely recognized to offer extremely liberal foreign investment regime in the region. It is home to rapidly growing private sector leading fast paced market-oriented economy.

The potential growth sectors such as infrastructure, power and natural resource are open to large scale investment.

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The sources said liberal investment policy has been introduced which includes per cent equity ownership, full repatriation of capital, tax breaks, customs duty concessions on import of plant and machinery and raw materials. So far seven SEZs Improvihg been notified and some are in planning source. Industries are being set up in these zones, the sources added. Moreover, Public Private Dialogues were initiated for seeking input of private sector in policy formulation for development of priority sectors. The government also took initiatives to improve energy shortfall.

During last year record power of 18, MW was achieved. Provision of required energy is facilitating local industry. Similarly, for improving security and countering terrorism, the government has carried out law enforcement operations to boost confidence of Pakistani as well as foreign investors to invest in Pakistan. The other steps included reduction in interest rate to 6 per cent which is lowest in forty years of Pakistan's history.

The government has announced new Auto Development Policy in The new policy is focusing on enhancing competitiveness. This policy has open vistas of local and foreign investment.

Under this initiative various priority SEZs are being planned for development and to spur industrialization into the country. The sources said establishment of EXIM Bank would give a boost to export focused SME's in the country by offering businessmen access to export credit and providing insurance of export receivables. Amongst Asian markets, Pakistan remained on top in According to Bloomberg, Pakistan market posted 5th highest return in the world.

The merger of Lahore, Karachi and Islamabad stock exchanges that was pending for past 15 ofr, was completed.

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According to World Bank's Doing Business report, Pakistan has moved up four places in ease of doing business rankings and is also one of the top ten global improvers. Investment in Pakistan is protected by the law. The sources said due to key initiatives economic activity has gone up and industry has benefitted a lot from ongoing infrastructure and energy related CPEC projects which has spill over impact on agriculture, industry, textile and other sectors. These initiatives have reduced time taken, cost involved and number of procedures for doing business in the country. The success and gains from above mentioned efforts is reflected in the total investment statistics since The total investment of Rs. Consequently, growth rate of economy has picked up substantially and there is a visible increase in the exports too — APP.]