Unisame perturbed over slow pace of reforms

KARACHI: The Union of Small and Medium Enterprises (Unisame) is perturbed over the slow pace of the ministries of industries and production, commerce and finance in taking reforms to overcome the tedious situation being faced by the micro to medium sector (MSMEs), a statement said on Monday.

Unisame President Zulfikar Thaver lamented that the Small and Medium Enterprises (SMEs) are closing down due to unavailability of raw and packing materials, the lack of foreign exchange funds to pay freight charges, inability to import spare parts to fix machinery and equipment, high rate of foreign exchange, which makes it difficult to afford imports of even a small percentage to complete the essential proportion of some ingredients of medicines or preservatives or essence of some formula to finalise an incomplete product.

Thaver said that at this rate has made it impossible for the SMEs to survive.

Meanwhile, the Unisame Council members have urged the government to act fast and allow cross-border trade with Iran and other Central Asian Republics on an immediate basis to indulge in currencies either of their own or Pakistani or for that matter, whichever currency is available to facilitate trade to enable the ball to roll.

Also it demanded immediate arrangements for the currency swap agreements with these countries, as any procrastination will damage the economy.

The council is at a loss to understand the slow comprehension of the policymakers and slow decision making and are afraid that at this rate it will cause a terrible setback and blow to the worst affected sector.

The business community and the entrepreneurs have urged Prime Minister Shehbaz Sharif to direct the cabinet ministers to work overtime, considering the crisis and do brainstorming sessions with the experts to find solutions.

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