AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: The Union of Small and Medium Enterprises (UNISAME) has expressed appreciation for Prime Minister Shehbaz Sharif’s focus on reforms across various sectors, including those aimed at improving conditions for small and medium enterprises (SMEs). However, the organization has urged the prime minister to expedite these efforts to capitalize on emerging opportunities.
According to a statement by Union of Small and Medium Enterprises, President Zulfikar Thaver commended the prime minister’s direct oversight of the SME sector and his consistent engagement with the Small and Medium Enterprises Development Authority (SMEDA) and foreign consultants. Thaver noted that while these meetings review proposals from national and international organizations, decisive action is necessary for tangible progress.
The UNISAME Council reiterated the need for impactful policies that will support and energize the SME sector. They highlighted the importance of financing, education, supply chain enhancement, and affordable energy solutions in fostering sector growth.
Concerns were raised about the financial losses faced by entrepreneurs who invested in solar energy systems, only to find electricity companies purchasing power at low rates and reselling it at much higher prices. Additionally, the import of secondhand vehicles has reportedly impacted local auto parts manufacturers due to reduced demand.
The council also addressed the government’s fiscal policies, noting that while inflation rates have decreased, the overall price levels remain high, affecting the economic environment. They advocated for efficiency and diligence in implementing austerity measures and institutional downsizing.
In the realm of exports, UNISAME has repeatedly called for a dedicated desk within the Trade Development Authority of Pakistan (TDAP) to promote SME products and geographical indication goods. They proposed establishing an SME Global Gallery and a digital platform for international trade interactions.
The organization also highlighted the need for financial support schemes from the State Bank of Pakistan to assist SMEs with commercial property acquisition and raw material procurement. UNISAME questioned the inactivity of the Exim Bank and the absence of a comprehensive credit guarantee insurance scheme.
Thaver concluded that without prompt action on these fronts, discussions and consultant recommendations would be ineffective in advancing the sector’s development.
The post UNISAME Urges Swift Action on SME Reforms Under Prime Minister’s Supervision appeared first on Pakistan Business News.