Karachi, June 04, 2016 (PPI-OT):The Union of Small and Medium Enterprises (UNISAME) welcomed the Budget 2016-17 and lauded the support for the agricultural sector which deserved top priority. The farm sector is the primary sector and the source of all raw material. President UNISAME Zulfikar Thaver also appreciated the 0 rating for the five sectors and said these are positive steps for the revival of the sectors.
He also thanked the finance minister (FM) Ishaq Dar for increasing the deposit limit of Behbood Savings Certificate from 4 to 5 million for senior citizens. The increase in the exemption turnover limit of cottage industries from 50 to 100 million is also another fulfillment of the demand of the union.
Thaver requested the FM to consider and include the entire export sector under 0 rating as this would give the value addition sector in rice, engineering and agro-food industries to develop faster and meet the global challenges. The other sectors which deserve consideration are housing and services sector.
The union chief who is the member of the technical committee of the National Finance Inclusion Strategy (NFIS) and the chairman of the capacity building group expressed confidence in the NFIS and said the government is keen to promote and develop the SME sector and is committed to uplift the sector under a timeline.
He explained that the SME sector need not be disappointed as the promotion and development of the sector is on the agenda of the NFIS and all aspects of access to finance, filling the technological gap, promotion of alternative energy, infrastructure and logistics are already on the card and within the next two years remarkable changes will be seen with SME units becoming more efficient under modernization schemes. The capacity building group under the NFIS is developing recommendations under the instructions of the FM for high impact changes in promotion and development of the micro to medium sized enterprises.
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