Business Community calls for Fiscal Discipline, Political Stability
Karachi, March 09, 2023 (PPI-OT): The Union of Small and Medium Enterprises (UNISAME) has given suggestions to the government to bring about economic uplift in view of the IMF loan under review and negotiations. UNISAME’s president Zulfikar Thaver speaking in a talk show on a television channel said the IMF loan is expected in a couple of days by virtue of the fact that Pakistan has almost completed the requirements of the IMF program satisfactorily despite being tough and burdensome on the masses.
He called for fiscal discipline. He emphasized that imports and exports are like warp and weft of an economy. To export you need to be competitive. Due to depreciation of rupee the exports should have increased but could not due to curb on imports of raw and packing material. The government needs to evolve a system of allowing imports on suppliers’ credit or on importers own foreign currency arrangement or on help from overseas donors.
Anver Mian Noor former senior vice chairman Rice Exporters Association of Pakistan (REAP) called for political stability, research and development, promotion and development of farming for growth of economy. Agriculture is the real backbone he emphasized.
UNISAME Council members called for tailoring all expenses, stopping all wastage of food, energy and materials, increasing productivity, increasing GDP, reducing imports to only the essentials, increasing exports of traditional and non-traditional items to all global destinations, making in Pakistan every possible item. focusing on our geographical indication (GI) items vigorously for exports.
UNISAME has launched a “Make in Pakistan” program with the support of PCSIR, SMEDA, SEDF, SME Bank, EDB and Investment Secretariat of Sindh to make in Pakistan import substitutes in food, chemicals, light to medium engineering, agricultural equipment, automobile parts, insecticides, pesticides, fumigation, fertilizers and whatever other items recommended by the business community. UNISAME is thankful for full support from government and semi government institutions for making in Pakistan of import substitution items.
For more information, contact:
Union of Small and Medium Enterprises (UNISAME)
75/1 3rd Commercial Street, Phase IV, D.H.A.,
Cell: +92-300-8245307, +92-321-8245307