PM TO LAUNCH SME FINANCE ROAD MAP/POLICY

The Union of Small and Medium Enterprises (UNISAME) has applauded Tariq Bajwa the governor of the State Bank of Pakistan (SBP) for preparing the Road Map (RM) for the SME sector financing with the consensus of all the stakeholders and inviting the prime minister to launch it at a ceremony at the Learning and Resource Centre (LRC) at the SBP.

The prime minister (PM) Shahid Khaqan Abbasi is scheduled to launch the Road Map for promotion of ‘ Home Remittances through M-Wallet Accounts and Policy for Promotion of SME finance ‘ on the 22nd December 2017 at the State Bank of Pakistan and after that hopefully the SBP will adopt the recommendations for the benefit of the under privileged sector.

UNISAME president Zulfikar Thaver said the RM reflects the good homework of the SBP It is indeed very comprehensive and covers most of the aspects of SME financing and if the policy makers follow the RM it will bring about promotion in the real sense.

He added that ” as far as we are concerned we are reiterating our demands as we firmly believe that besides finance the sector needs friendly policies for energy, raw material availability, filling of technological gap, marketing support, industrial estates, innovative and value addition guidelines and many other facilities, support,encouragement and motivation”

UNISAME will also seek the opportunity to invite the kind attention of the PM to the turnover tax imposed on the rice traders who are liable to pay a tax of 0.2% if the turnover exceeds 10 millions. This tax is not on other commodities but only on rice and the union will seek removal of this tax on rice.

The Union will also urge the PM to enable the SME sector to meet the challenges of global competition by reduction in cost of doing business and ease of doing business.

Posted in: Press Releases