Karachi, June 14, 2013 (PPI-OT): The Union of Small and Medium Enterprises (UNISAME) invited the attention of the federal finance minister (FM) to the omission of the export-import (EXIM) bank which was approved by the previous national assembly and the cabinet and urged him to set up the EXIM bank on merit.
The union has urged the FM to recognize the important role of the proposed bank and ensure its establishment.
President UNISAME Zulfikar Thaver said the business community expected that the budget would have provision for the unfinished task of the previous government and SME sector development projects would be sufficiently provided for but unfortunately they have been omitted.
The community is willing to pay taxes provided they get in return good governance and good management. The SMEs are confident and hopeful that the PML-N will reduce corruption, resolve the energy crisis, control inflation and urged the FM to remain focused.
He advised the FM to facilitate the sector with reduction in import duties of raw material, lowering mark up, improving financing facilities of bills discounting, leasing and insurance protection to banks for SME financing.
He pointed out that the business community realizes the fact that the FM had very little time at his disposal to prepare and finalize the budget but nevertheless the sector expects the FM to consider the importance of uplifting the sector and this cannot be done without facilitating the sector with incentives, relief and encouragement to modernize.
He was sure that the increase in sales tax and other withholding tax will withhold the progress of the economy and very soon the effects will be noticed. The prices of many items will increase and the burden will fall on the common man and the SMEs.
The union experts have advised the FM to immediately announce a package for the SME sector which is a majority sector and deserves to be facilitated to modernize, grow and perform and as such the government needs to study the requirements of the sector diligently and arrange SME promotion and development scientifically.
For more information, Contact:
Union of Small and Medium Enterprises (UNISAME)
75/1 3rd Commercial Street,
Phase IV, D.H.A., Karachi, Pakistan
Phones: + 92 35884225 and 6
Cell: + 92 300 8245307 and + 92 321 8245307
Fax: + 92 35380642