Karachi, January 26, 2022 (PPI-OT):The Union of Small and medium Enterprises (UNISAME) has urged the Minister for Production and Industries (MoP and I) Khusro Bakhtiar to release the SME Policy 2021 launched by the prime minister (PM) promptly to enable implementation by the stakeholders and most importantly the Small and Medium Enterprises Development Authority (SMEDA) on the much-needed fast track basis.

UNISAME president Zulfikar Thaver said the small to medium sized entrepreneurs (SMEs) are eager to know the details of the SME Policy and the measures to be taken by the government for reducing cost of production and ease of doing business as both are crucial to the promotion and development of the sector.

Thaver said the sector expects that the policy would support, facilitate, encourage and help the sector recover from the setback due to the pandemic and also give clear priority to the under privileged sector. UNISAME Council (UC) has invited the attention of the policy makers to the slow pace of promotion and development and questioned whether measures for strengthening of SMEDA has been adopted and establishment of the SME Development Fund, restructuring of the SME Bank and functioning of the Exim Bank as these four institutions have very significant roles to play.

There can be no growth of the sector without these institutions as UC has time and again reminded the policy makers that these are the pillars of SME promotion and development. UC has also reminded the finance ministry that SME promotion and development is not charity, it is the responsibility of the state.

Other important facilities are the credit guarantee insurance schemes highlighted in the consultative sessions in the policy making and the sector hopes that they are included in the policy launched by the PM. Until and unless the SME Policy document is not released it would not be possible to understand whether it is comprehensive or falling short of the expectations of the sector.