Unisame urges PM to ensure the budget brings remedies for the SME sector.
| Zulfikar Thaver <zulfikar.thaver@unisame.org> | 11:27 AM (12 minutes ago) |  | |
| to Kinza, news, Munawar, Manzar, Shahid, aqkhan69, Haris, mhaqureshi, bcc: Media | |||
The Union of Small and Medium Enterprises (UNISAME) has urged the prime minister (PM) Shehbaz Sharif to ensure that the genuine demands of the SME sector are met in the forthcoming budget 2025-26 to enable the sectors uplift to face very trying global circumstances.
President UNISAME Zulfikar Thaver reiterated that the SME exporters are in turmoil due to higher taxes imposed on exporters and secondly exorbitant increase in freight because due to regional conflicts ships have to take longer routes as even transit goods are not allowed in Indian waters.
Thaver urged the PM to direct the Federal Board of Revenue (FBR) not to burden the sector with more than 25 % income tax on profits. The sector is facing costly electricity charges, high cost of raw materials due to global inflation , high freight rates due to war zones declared in Yemen, Ukraine and now Indian ocean.
All this is making us uncompetitive and immediate relief is required for survival.
The Union Council members have also appealed to the PM to establish the much needed SME export bureau for promotion of SME wares and geographical indication ( GI ) goods with value addition.
The PM also needs to make provisions for funding the SME bureau in the upcoming budget.
The PM also needs to provide funds for strengthening SMEDA to enable it to support projects for joint ventures, collaborations and partnerships with Chinese entrepreneurs and to work on transfer of technology under CPEC to fill the technological gap through a technical institute to be established for this purpose. UNISAME experts emphasized the need to make SMEDA strong. There is no sense in having a namesake authority. Either strengthen it or close it , Thaver lamented.
The Union Council has urged the PM to act fast and not to overlook these requirements in the budget.
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