Support to SME sector urged

KARACHI: The Union of Small and Medium Enterprises (UNISAME) has invited the attention of the policymakers to the support, encouragement, finance and facilities required by the emerging corporate sector from among the medium sector and urged serious consideration for exploiting their potential, a statement said on Monday.

UNISAME President Zulfikar Thaver appreciated the role of the State Bank of Pakistan (SBP) and for its serious consideration to widen the definition of the SME sector and including the emerging corporate sector from among the SMEs and significantly the upper medium sector.

UNISAME; therefore, proposed the turnover limit in the definition to Rs1,200 million although some experts insisted on a bigger limit of Rs1,500 million, considering the depreciation of the rupee and inflation.

Thaver said UNISAME Council members were positive that if the emerging corporate sector is supported and given opportunity to progress, it will show its potential and engage itself not only in modernising, replacing and balancing, but in setting up import substitution and innovative industries.