Unisame urges govt to control hyperinflation

KARACHI: The Union of Small and Medium Enterprises (Unisame) expressed concerns at the hyperinflation as enterprises have become unprofitable and the common man’s condition has become miserable, a statement said.

The common man is finding it difficult to make ends meet at the face of daily increase in the prices of essential items such as food, clothing, medicine and medical care.

Unisame President Zulfikar Thaver said that small and large industries have lost their viability due to continuous increase in the prices of inputs and the cost of production due to depreciation in the value of the rupee.

The import of raw material has become expensive, the transportation of goods has become costly and likewise the running expenses have shown sharp increases, he added.

The mere increase in the discount rate will not be able to curb inflation and measures are needed to control the hyperinflation, due to which the buying power of the customer has reduced and only bare essential items are being purchased by the common man.

Thaver urged the government to impose foreign exchange regulations, control the transfer of funds, check smuggling, hoarding and discourage imports of goods which are manufactured in Pakistan.

The government needs to declare austerity, reduce its own expenses and announce energy saving and simplicity in lifestyle. It needs to promote productivity, exports, value addition, set up import substitution industries and promote alternate energy systems.

The import duty on raw material needs to be reduced to lower the cost of production to enable Small and Medium Enterprises (SME) units to remain competitive.

The Unismae president advised the government to invoke the government and semi government institutions to gear up to face the challenges to the economy and demanded higher efficiency from the state owned institutions, bureaucracy and the ministers.

The Unisame council urged the government to reduce corruption, inefficiency and wastage and urged the prime minister and his cabinet to take anti-corruption measures, and demand performance from the government officials.

The council expressed surprise as to how the price control authorities could remain passive to the sharp increase in the prices of vegetables, fruits, grains and kitchen items making it impossible for the common man to survive.

The union invited the attention of the government that the common man is unable to eat even one square meal and as a result the education and medical needs of the family are totally ignored.