UNISAME URGES STAKEHOLDERS TO SYNERGIZE FOR NFIS IMPLEMENTATION

The Union of Small and Medium Enterprises (UNISAME) chief urged all the stakeholders in the private and public sector to work jointly for synergy to meet the global challenges facing the micro, small to medium sized sector (MSME) and to implement the National Financial Inclusion Strategy (NFIS) in letter and spirit and timely completion.

Zulfikar Thaver chairman Capacity Building Group (CBG) of NFIS Technical Committee (TC) said the NFIS will remain just a document unless the banks both commercial and microfinance, the Trade Development Authority of Pakistan (TDAP), the Small and Medium Enterprises Development Authority (SMEDA), SECP, PCSIR, EDB, NPO and FPCC&I along with all its subordinate chambers of commerce and industry and the affiliated trade associations join in the implementation of the strategy under the shared leadership of State Bank of Pakistan, World Bank and Ministry of Finance.

SMEDA and TDAP have important roles to play in the NFIS as exports have declined and local industry is suffering due to imports of several items which are manufactured in Pakistan and not patronized. The EDB must ensure the revival of the light engineering goods. The PCSIR must gear up to meet the challenges in the pre-cooked and other food items. The NPO must focus on productivity of the sector. The chambers of commerce and industry and trade associations need to cater to the requirements of the sector and refrain from politicizing and socializing. They have important role to play in promoting the lines of trade they represent and arrange for transfer of technology through global chambers and particularly China in view of the CPEC.

The CBG recommended access to finance, technical and marketing support, MSME friendly policies of taxation, duties. Concessional mark up on finance for alternate energy, land in industrial estates and zones on easy repayment facilities, adopting modern concepts of banking, insurance and leasing. Improving logistics and infrastructure.

Each of these institutions has to play its role and focus on the capacity building of the SMEs and examine its role as to how best it can help and support the MSME to modernize and move to the next level and the next within a period of couple of years as envisioned in the NFIS.

Thaver said the NFIS aims to include all segments of society and ensure that no individual, association of persons or company is excluded. It aims at giving financial access to all who have a good business plan and an agenda for income generation and growth.

The NFIS is capable of creating employment, poverty alleviation, self employment, opportunities for youth and by and large the economy of the country.

He said it is expected that the above stated institutions will follow the guidelines and come forward to implement the NFIS to facilitate the MSME to have access to finance, technical, educational, vocational and marketing support to improve their businesses on modern lines.

Posted in: Press Releases