Muhammad Saleem

The government has been asked to establish a ‘Small Business Growth Fund’ to facilitate small traders’ easy access to capital, along with simplifying regulatory and tax frameworks for the sustainable development of the small trade sector.

Speaking to WealthPK, Muhammad Nadeem, a fabric trader from Chiniot Bazaar, said the small trade sector comprises millions of shopkeepers, vendors, and micro-enterprises who are major job creators, support local economies, and provide essential goods and services to households.

He warned that overlooking this sector could spell trouble for entrepreneurs.

He said people involved in small trades are efficient in expanding their operations, but they lack access to affordable loans, which stifles their growth. He said that heavy taxation and complex regulations further burden these businesses, often overwhelming them in the absence of supportive policies or regulatory simplification. He also pointed out that unreliable electricity and high energy rates also hurt businesses.

Nadeem cautioned that any damage to the small trade sector will lead to rising unemployment and reduce the purchasing power of families.

He urged policymakers to prioritise key reforms, such as ensuring easy and affordable access to credit – particularly small loans at low interest rates – and simplifying tax procedures to ease the burden on small businesses. He also urged the government to improve basic infrastructure, like better roads, sanitation, and reliable electricity, to create a more supportive environment for small traders.

He said in light of emerging trends, small traders should be included in training programmes to learn modern business practices, digital marketing, and financial management. Such training, he added, would greatly empower small entrepreneurs.

Meanwhile, Dr Ijaz Ahmed, an agri-scientist, has warned that the country’s leadership appears to be turning a blind eye to the long-term economic risks of continually sidelining the agriculture sector. “The long-term risks are profound, as the current trajectory may lead to social instability and increased reliance on imports – an unfavourable outcome for a country already grappling with economic issues,” he added.

Speaking to WealthPK, he cautioned that agricultural stagnation could force Pakistan into relying heavily on imported food, draining foreign exchange reserves. “This would drive up prices of essential goods, making the country vulnerable to global price shocks.”

To ensure long-term economic stability and growth, Ahmed stressed that policymakers must treat agriculture as a long-term investment rather than merely a revenue-generating sector. “We need to prioritise strategic, future-focused investments in agriculture. This approach will surely pay dividends in terms of jobs, poverty reduction, and sustainable growth.”

Credit: INP-WealthPk