Pakistan ranks third in terms of government support for small and medium enterprises (SMEs) to mitigate the effects of Covid-19, the Small and Medium Enterprises Development Authority (Smeda) unveiled on Tuesday.
According to a survey conducted online by Smeda, Asian Development Bank Institute (ADBI) and the Asian Productivity Organization (APO) entitled “Impact of Covid-19 on SMEs,” a majority of Pakistani companies faced a shortage of cash flow (82%) and raw materials (65%).
However, 11.44 percent of SMEs expect their sales revenue to increase compared to 2019, while 12.29 percent of respondent companies expect sales revenue to remain the same.
The ADBI and APO surveys were also conducted in other countries of the region including Indonesia, India, Bangladesh, Malaysia, Vietnam, Mongolia and the Democratic People’s Republic of Laos.
The online survey started in August 2020 and lasted till September 2020, with the participation of 236 SMEs from Pakistan.