UNISAME URGES STATE BANK TO PROMPTLY SET UP EXIM BANK

The Union of Small and Medium Enterprises (UNISAME) has urged Yasin Anwar governor State Bank of Pakistan (SBP) to expedite the setting of the much needed Export Import (Exim) Bank for facilitating trade and industry. There is urgent need of Exim Bank and the government cannot afford to shelve such an important tool of trade promotion for which provision was made in the budget by the previous coalition government.

President UNISAME Zulfikar Thaver reminded the governor SBP of the commitment made in the Trade Policy to establish Exim to promote and support the import of raw material, technology and packing materials and export of goods and services to third world countries, non traditional and new markets.

UNISAME questioned the delay in the establishment of a very important and supportive institution which could have a very strong impact on the economy and turn around the declining trend in exports to third world countries by financing the exporters by discounting their bills drawn on banks with low rating and imports from sellers under deferred payment basis.The Exim Bank would also provide bridge finance to SMEs.

The SME sector is disappointed by the slow, non serious and lethargic attitude of the government and the pre-election promises made by the Pakistan Muslim League Nawaz (PML-N). Besides the SME sector considers the PML-N government as business friendly and expects prompt decisions to boost trade and economy.

The union has reiterated its demand for financial products, industrial estates, marketing support, tax relief, infrastructure improvement, logistics and the setting up of institutions like SME Export House, SME Credit Guarantee Insurance, SME Fund and the office of Ombudsman for addressing grievances and complaints of the sector.

The union has urged the government to recognize the important role of the SME sector and take prompt positive steps to promote and develope the sector which is the back bone of the economy.

Posted in: Press Releases