Karachi, May 29, 2014 (PPI-OT): With the completion of one year in power of the Pakistan Muslim League Nawaz (PML-N) the business community is anxiously expecting business friendly policies and their prompt implementation for stimulation of the economy. The PML-N government is faced with challenges to reduce inflation, provide energy for production, create employment, attract investment and offer a conducive environment to investors.
President Union of Small and Medium Enterprises (UNISAME) Zulfikar Thaver said the PML-N government has done fairly well comparatively but the SME sector expects the business friendly PML-N government to take bold positive measures in the forthcoming budget to remove or considerably reduce the import duties and sales tax on farm machinery and inputs and impose income tax on agricultural income.
All alternate energy devices need to be exempted from duties and sales tax to encourage solar, wind and biomass equipments and devices.
UNISAME urged the PML-N government to fulfill its promise to the common man by increasing the income tax exemption limit to Rs 600000 for individuals and accordingly for family businesses.
The government needs to focus on the requirements of the common man and facilitate the common man to survive in the midst of high inflation as the common man cannot eat one square meal. A policy is required to offer subsidized ration for kitchen items to the under privileged, petrol on lower rates for their two wheelers, medicines and low cost housing under special schemes.
Thaver said the SME sector which is the backbone of the economy needs bridge finance and finance under pay as you earn schemes for purchase of premises and raw material and facilities for discounting of bills.
The government needs to accommodate the sector in special economic zones on soft terms.
Thaver said the upcoming Trade , Industrial, Agricultural , Auto policies need to come up with business friendly policies to support the export sector and facilitate the import of technology, raw material, import substitution industries and the agricultural industries based on indigenous raw materials.
The sector also needs its own export house, ombudsman, chamber of commerce, an SME specific bank, technical institute and the much awaited Exim bank. The SME policy 2007 needs to be implemented in letter and spirit and every effort must be made to expedite matters.
The union chief urged the government to reconstitute the board of directors of the Small and Medium Enterprises Development Authority (SMEDA) without loss of time and strengthen the authority to upgrade the agricultural based industries based on primary sector raw material resources vigorously and modernize dairy farming, poultry, salt, fish farming, sheep breeding and feed industries.
The farm sector needs the focused attention of the government for modernized farming due to lack of water for crops, fruits, vegetables, flowers and also finance and facilitate dehydration and cold storage systems. There is urgent need for green house farming and the farmers need education on the subject to benefit from innovative systems.
Whilst appreciating the efforts of the planning ministry to bring about reforms and a better Pakistan vision of Prof. Ahsan Iqbal the federal minister for planning and reforms, the union experts believe the planning ministry is focused but urged the ministry to expedite the recommendations and plans for speedy implementation to catch with the opportunities and meet the challenges which Pakistan is facing due to Indian competition.
Pakistan needs to regain lost global markets and remain competitive. The sector needs the support, encouragement, facilities and environment from the government.
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