PM URGED TO DECLARE IMPORT SUBSTITUTION….The Financial Daily 10/06/2020

The Union of Small and Medium Enterprises (UNISAME) has urged the prime minister Imran Khan to declare import substitution industrialization (ISI) policy like other countries and implement it fully to promote domestic industry to manufacture items being imported and save valuable foreign exchange.
President UNISAME Zulfikar Thaver said the country is importing hundreds of items which can easily be manufactured in Pakistan ranging from mobile phones, electronic goods, watches, vehicles and parts, foodstuffs, stationery, chemicals, footwear, clothing and cosmetics.
Thaver lamented that it is a matter of shame to see imported goods in the market of items which can be manufactured in Pakistan.
He emphasized the need to make as many goods as possible in Pakistan.
He said when the country can make ships, aircrafts and tanks why it cannot make other goods.
UNISAME experts have invited the attention of the government to the fact that many upper Medium and big sized entrepreneurs are all set to put up import substitution industries provided they are facilitated by the board of investment and are encouraged by incentives and tax holidays.
UNISAME has prepared a list of industries and is in a position to arrange for technology from China to manufacture vast range of items under joint ventures, partnerships, collaboration or franchise. The government needs to declare a policy to promote ISI and direct all the concerned departments to give priority to one window operation, no interference and remove all impediments forthwith.
The technology is available in farming, fruit processing, fishing, leather, textiles, electric vehicles, pharmaceuticals and many downstream industries.
UNISAME experts explained that the economy is going to bounce back as soon as the pandemic is over and preparations must be made from now. This phase of recession and depression will soon be over and Pakistan must not lag behind. The government needs to gear the economy on positive lines under proper direction.
UNISAME has institutional support from SMEDA and the business community at large.

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