KARACHI, Jun 26 (APP):The United Nations’ Day on Micro, Small, and Medium-sized Enterprises (The UN MSMEs Day) will be observed on Thursday, to highlight their valuable contributions towards achievement of Sustainable Development Goals (SDGs).
The United Nations General Assembly, recognizing the important role of MSMEs in SDGs particularly in promotion of innovation, creativity and decent work for all, designated 27 June as “Micro-, Small, and Medium-sized Enterprises Day” by a resolution on April 06, 2017.
On the occasion of the UN MSMEs Day, the State Bank of Pakistan (SBP) will organize an MSMEs seminar. The seminar to be held under the theme ‘MSME Finance: Catalyst for Inclusive Growth’ is aimed to acknowledge the vital role of MSMEs in inclusive economic growth, employment generation and poverty reduction.
During the ceremony, the SBP and the financial institutions will reiterate their commitment to support and catalyze the MSMEs’ growth through sustained increase in MSMEs financing, a SBP spokesperson informed adding that special events will be organized across the country in 16 field offices of SBP-Banking Services Corporation to provide a platform to prominent MSMEs, banks, and regional trade bodies to participate and develop partnerships to spur the MSMEs growth.
In parallel, financial institutions will highlight the significance of this day through social media campaigns, events at head offices/regional offices and advisory clinics for MSMEs.
According to United Nations, MSMEs account for 90% of businesses, 60 to 70% of employment and 50% of GDP worldwide and hold the potential to transform economies, foster job creation and promote equitable economic growth if given adequate support.
The core objective of celebrating the MSME Day is to highlight their pivotal role and explore avenues for their advancement while offering an opportunity to brainstorm on how key stakeholders could support micro, small and medium sized businesses to advance the 2030 Agenda and contribute to achieving the SDGs, including poverty eradication and decent work for all.
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