Karachi: The International Council of Small and Medium Enterprises (ICSMEs) whilst Mian Nawaz Sharif on his election as prime minister of the Islamic Republic of Pakistan and wishing him best of success and assuring him full support invited his attention to the fact that the SME sector is the majority sector and economic success depends on the promotion and development of the SMEs.
President Union of Small and Medium Enterprises (UNISAME) Zulfikar Thaver conveyed the best wishes of ICSMEs to the PM and the advise to recharge the sector by facilitating, motivating, encouraging and supporting it to grow and modernize on fast track basis.
The ICSMEs urged the government to work in the agricultural sector and promote modernization of farms and systems of cultivation, irrigation, harvesting, storing and logistics.
The international body pointed out that value addition is the key to economic growth and Pakistan has the potentiality by virtue of its agricultural base. The experts advised the government to focus on value addition in fruits, vegetables, flowers, grains, pulses and cotton by a specific program for each produce item.
They further advised the promotion of alternate energy systems of power generation and 0% duty on all small to medium sized energy generation devices and plants for the benefit of the SME farmers and manufacturing units.
The experts advocated that the facilities of leasing finance be enhanced and the SMEs be provided finance to purchase plant, machinery, equipment under deferred payment or pay as you earn schemes.
The ICSMEs invited the attention of the PM to the need of SME Export House, SME Guarantee Insurance, Technical Institute and SME Financing Institution.
The council appreciated the good work of SMEDA and recommended the enhancement of scope of the authority by strengthening it with more funds and experts to meet the challenges.
The ICSMEs assured full support and guidance to the ministries of commerce, industries, agriculture and science and technology to carry out SME promotion and development on scientific lines.