Karachi, June 07, 2016 (PPI-OT):The Union of Small and Medium Enterprises (UNISAME) assured the SME sector of redressal of their grievances under the National Finance Inclusion Strategy (NFIS) action plan of the government under a timeline. President UNIAME Zulfikar Thaver said the government is fully aware of the difficulties faced by the SME units and farm sector with regard to energy, access to finance, technological gap, ease of doing business and cost of production and is addressing all the issues to make the sector comfortable and growth oriented.
Thaver as member of technical committee and chairman of capacity building group of NFIS pointed out to the participants that NFIS has an agenda for sharpening banking, insurance, leasing, marketing and technology support and logistics for higher efficiency of the sector. The renewable energy sector will be geared for playing its role as an alternate source.
Thaver said his group of experts will leave no stone unturned to make things happen for the under privileged sector. He said modern banking concepts are being introduced such as warehouse receipt financing and bridge financing. Export credit guarantee insurance and SME credit guarantee insurance will cover the risk of finance to SMEs to make banks comfortable in financing SMEs.
The scope of leasing will be broadened to include commercial property leasing to enable entrepreneurs to purchase shops, offices and workshops, warehouses and or factories under pay as you earn schemes. Entrepreneurs will be given the facilities of their collateral management through logistic companies who will cover goods in transit as collateral and provide secured warehousing
The organizations like Engineering Development Board (EDB), the Pakistan Council of Scientific and Industrial Research (PCSIR) the National Productivity Organization (NPO) and the Small Medium Enterprises Development Authority (SMEDA) are getting into gear and co-ordinating with UNISAME for high impact actions for SME uplift.
The Trade Development Authority of Pakistan (TDAP) is being assigned the role to support global marketing of SMEs. The union president urged the SMEs not to be disappointed and to wait and see the actions of the NFIS on receipt of the recommendations of the capacity building group of the technical committee of the NFIS.
He said the finance minister (FM) Ishaq Dar has given directives to the secretariat of the NFIS at State Bank of Pakistan (SBP) to recommend measures for the up gradation of the sector. Meanwhile the capacity building group of the NFIS has suggested for survey of SMEs and industry specific area wise uplift plan for SME units situated all over the country.
For more information, contact:
Union of Small and Medium Enterprises (UNISAME)
75/1 3rd Commercial Street,
Phase IV, D.H.A., Karachi, Pakistan
Cell: +92-300-8245307, +92-321-8245307