PM URGED TO GIVE IMMEDIATE RELIEF TO SMEs

Unisame urges PM to give immediate relief to SMEs

The Union of Small and Medium Enterprises (UNISAME) has invited the attention of prime minister (PM) to the precarious condition of the SME sector due to business which has been badly affected due to Corona virus and subsequent closure and lockdown.

President UNISAME Zulfikar Thaver said the government needs to take steps to reduce the burden and revive the SME sector which is in doldrums.

UNISAME experts have urged the government to reschedule the loans given to the sector.

Secondly to reduce the markup to make it bearable.

Thirdly to reduce taxes, duties wherever possible to revive the sector and make it stand on its feet again.

Fourthly to promptly refund rebate claims and also to grant rebates wherever applicable.

Fifthly export proceeds and realization of bills drawn on foreign buyers has been delayed as many countries do not have the intermediary currency to remit the proceeds and this has caused blockage to SME units. It is suggested that the Credit Guarantee Scheme needs to act in this situation and take measures to facilitate the exporters to overcome the situation.

Thaver said the last but not the least is the relief package for SMEs and the basis by which the losses of the entrepreneurs could be determined and in this regard a sector wise study is required and for manufacturers their electricity bills will indicate their fall in consumption and production, for commercial traders their export and import figures and local sales turnover.

It is pertinent to note that no entrepreneur must be permitted to take undue advantage of the package and only bonafide claims are entertained.

It has been observed that the foodstuffs industries, pharmaceuticals, soaps , chemicals and connected industries have benefited and as such need no relief package.

Posted in: Press Releases