PM urged to ensure SMEs promotion

KARACHI: The Union of Small and Medium Enterprises (UNISAME) has urged the prime minister to ensure fast-track promotion of the sector under his personal supervision, as it is a tool for poverty alleviation and it can best be achieved with self-employment, a statement said on Monday.

UNISAME President Zulfikar Thaver in a message to the prime minister stressed the need for stimulation of the sector by prompt remedial measures to save SMEs who have received a setback due to fast devaluation of the rupee and resultant inflation.

The union has invited the attention of the prime minister to the requirements of the sector to cope up with the challenging situation and to take measures to promote, encourage, facilitate, motivate and upgrade the SME sector, the statement said.

Thaver said that since the SME sector is the majority sector, which is vibrant, backbone of the economy, the engine of growth and the vehicle for poverty alleviation and best for creating employment it deserves the best attention of the government. The SMEs contribute 30 percent to exports and most of them are involved in value addition and they contribute 35 percent to GDP and offer employment to around 40 percent of the labour force.