SMEs have high expectations from SMEDA under PM…The Financial Daily 20/10/24

The Union of Small and Medium Enterprises (UNISAME) has invited the attention of prime minister (PM) Shehbaz Sharif to reactivate under fast track the Small and Medium Enterprises Development Authority (SMEDA) which is under his direct supervision.
President UNISAME Zulfikar Thaver said the SMEs have high expectations from SMEDA and have therefore urged the PM to expedite the constitution of the board of directors, appoint chief executive officer from private sector or any experienced executive from SMEDA itself after consultation with the Union.
Thaver highlighted the requirements of the sector and urged the PM to ensure that SMEDA comprehends the requirements and works in the direction of full filing the agenda on fast track.
The sector expects the authority to advocate its cause, to identify the impediments to growth, to suggest remedial measures and make sure they are implemented.
The sector remained disappointed in the past but now SMEDA being under the direct supervision of the PM surely expects SMEDA to assert itself and pinpoint the drawbacks in taxation, high cost of energy, high cost of production due to import duties on raw materials, high cost of finance and logistics.
The sector expects the State Bank of Pakistan (SBP) to expedite the Exim Bank full operational functioning along with its exports credit guarantee portfolios. It also expects financing under ‘Pay as you earn schemes’ for purchase of machinery, premises, raw materials and systems.
The sector demands that SMEDA which is a consultative body to the government in policy making must also become an active operational functional body for implementation of projects besides being simply theoretical.
The role of SMEDA must be that of an authority which delves in every aspect of making doing business easy for entrepreneurs and also Agri industries and farming said the participants. SMEDA must have an outreach in every district. It must be strengthened and enhanced in scope and size to make it worthwhile.
All these measures are very crucial because the large sector is shy due to various reasons and the upper medium and the medium sector is in a position to set up new industries provided they are facilitated, supported and encouraged by friendly policies.
UNISAME Council members are coordinating with stakeholders to stimulate the economy and also are contacting segment leaders to invigorate the economy.

Posted in: Press Releases