Unisame demands economic bailout package

Web DeskWeb Editor

05th Jul, 2021. 08:59 pm
Unisame demands economic bailout package

KARACHI: The Union of Small and Medium Enterprises (Unisame) has said that the SMEs have been facing a tough time due to the negligence of the government and demanded an economic bailout package, a statement said on Monday.

Unisame President Zulfikar Thaver appealed to Prime Minister Imran Khan to take notice of the rising inflation; following the high cost of doing business, costly electricity, gas, water and diesel in the country.

The logistics have also skyrocketed and exporters are unable to afford freight rates, he said, adding that surprisingly the government was unaware of the situation and ignoring core issues of the sector.

The survival of the SMEs has become difficult and many of the units are on the verge of closure, Thaver said, adding that this sector is hit by the pandemic, while many units are facing acute financial problems and expect the government to give financial aid to them.

Moreover, the Unisame appreciated the support of the government to SMEs and the SME farmers in terms of finance at affordable rates and finance under various schemes of the State Bank of Pakistan (SBP), but because of inflation, the SMEs have become uncompetitive and; therefore, unable to sell products at the local and international markets.

Meanwhile, the Unisame Council members have called upon the Ministry of Industries and Production to come up with the remedial measures for reducing the cost of doing business and to enable the SME units to survive in these circumstances.

They urged the prime minister and the finance minister to provide a relief package to the small and medium enterprises.

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