UNISAME demands focus on SME Sector due to sector facing challenges - Press Release issued by Union of Small and Medium Enterprises.

Karachi -- November 15, 2022 (PPI-OT)

Following is the text of press release issued by Union of Small and Medium Enterprises (UNISAME)

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The Union of Small and Medium Enterprises (UNISAME) has invited the attention of the prime minister (PM) Shahbaz Sharif of the coalition government to focus on the SME sector to overcome challenges. The SME sector is the engine of growth and it is the only sector which can strengthen the dwindling economy as it is undoubtedly the backbone of the economy. The Union feels that the PM and his team has not given their best attention to the majority sector which the micro to medium sector deserves.

President UNISAME Zulfikar Thaver said the impediments to SME growth are lack of information/ education, finance, friendly policies, favourable environment, infrastructure, efficient logistics and energy. In order to promote, encourage, facilitate, motivate and upgrade the SME sector we have suggested to the government to take measures to educate the SMEs about the new technologies in production, management, marketing, accounting and inventory control. Next to encourage the SMEs to modernize and make plans for balancing and replacement of their units and arrange transfer of technology.

Facilitating the SMEs is also very important and this can be done through efficient and modern banking, leasing and insurance as these are the pillars for growth. The UNISAME Council emphasized that the SMEs in order to progress need law and order and protection and need to feel safe and protected. They pointed out that infrastructure needs to be improved on fast track.

Experts stated that the SME sector is...