ISLAMABAD: The Union of Small and Medium Enterprises (UNISAME) has expressed full faith on Finance Minister Shaukat Tarin's comprehension of the sector requirements owing to his long-term association with the under privileged sector and his passion for the uplift of the sector.

According to a statement issued by finance ministry on Saturday President UNISAME Zulfiqar Thaver on behalf of himself and the UNISAME Council (UC) wished him all the best in his endeavors for improving the economic position of the country and his short-term and long-term strategy for its stabilization, sustainability and growth as well.

They underlined the need to provide finance at affordable rates, energy at affordable rates, lowered import duties on raw material, conducive environment, fair taxes, and incentives for new units and innovative industries, special facilities for import substitution industries and pay as you earn schemes.

UNISAME Council also urged the finance minister to provide for transfer of technology, joint ventures, and collaborations under CPEC.

Besides the above, the sector needs export credit guarantee insurance at affordable rates, office of ombudsman, a SME-Liaison Committee (SME-LC), a strong SMEDA and a federation of chamber of commerce for the SMEs.

UNISAME Council members recalled that the finance minister during his long association with the SME task force and various committees where he was on the advisory committees of the State bank of Pakistan (SBP) and SMEDA had himself advocated the cause of the sector and recommended these measures for fast track development of the sector.-PR

Copyright Business Recorder, 2021