Industrialization, investment and friendly policies need of hour: Unisame |Editorial

The business community being badly affected seeks prompt solutions through friendly policies, which envisages industrialization and which goes all out to facilitate an investor from Pakistan or overseas, said President Union of Small and Medium Enterprises (UNISAME) Zulfikar Thaver in a statement here Sunday.
He said the UNISAME invites the attention of Abdul Razzak Dawood Adviser to the prime minister ( PM) on commerce, industry, production and textiles to the need to stimulate economy by facilitating the business community and encouraging them to play an important role in reviving economy.
Remember Her? Take a Deep Breathe Before You See What She Looks Like Now
Remember Her? Take a Deep Breathe Before You See What She Looks Like Now
Thaver urged the adviser to introduce friendly policies of trade, industry, SME, taxation and provide incentives. High impact policies are required for revival of economy. He said the government needs to work strategically on the primary, secondary, tertiary and mining sectors. It is pertinent to note the requirements of the textile, rice, engineering, commodities, agribusiness and specifically the SME sector.
The basic requirement of a good industrial policy is that the industrialist should feel comfortable and the existing units remain feasible and sufficient incentives are provided to new comers and the sick units are given new life under a restructuring program.
He said the units have to be competitive and the cost of production needs to be reduced. The supply of raw material ensured, the element of duties, taxes, mark ups needs to be revised specifically industry wise to accommodate the ones which are facing tough competition. Likewise the business community needs friendly trade, taxation and SME policies.
He said the UNISAME experts have expressed concern over the slow and going to do habit of policymakers and invited their attention that time is the essence and with the fast depreciation of the rupee, the inflation and the increase in mark the situation is alarming.
Special Economic Zones (SEZ) can be established and entrepreneurs encouraged to set up industries for items which are imported and can be manufactured in Pakistan. The Pakistan Council of Scientific & Industrial Research has a long list of import substitutes and this can be commercially exploited. The Government can set up industries and give them to entrepreneurs on long term repayment schemes with low markup to give industrialization a jump start.
The Small and Medium Enterprises Development Authority (SMEDA) and the Trade Development Authority of Pakistan (TDAP) must jointly work on value addition program. In fact a value addition cell is the need of the hour.
The WTO agreement leaves us no choice but to focus on items where we are better placed by virtue of natural or traditional factors or cheap labor and we have to promote such industries and modernize them. It is our firm belief that the Large Scale Enterprises must be vigorously encouraged because the Small & Medium Enterprises are indirectly promoted and every effort must be made to arrange for collaborations in different areas with leading industries of the world to enable our large sector to set up industries in engineering, construction, chemicals, synthetic yarns, electronics and heavy mechanical complexes.
He said needless to say that the industries are subjected to answer and adhere to various Government agencies who are demanding various levies and charges and this needs to be minimized to reduce unnecessary paper work and a negative feeling of distrust and over checking. The much talked about one window operation needs to be implemented in letter and spirit.
The SMEs have requested the government to set up a SME Promotion Bureau to promote, encourage, facilitate, support and educate SMEs who need motivation and this can be done by a Bureau managed by the private sector or in private public partnership to launch a program for the direct uplift of the sector.
Also urgently required is a Small Medium Enterprises Liaison Committee (SME-LC) for protection of SME units in areas where feudal lords are dominating, demanding and collecting extortion, he concluded.
Source : https://dailytimes.com.pk/374179/industrialization-investment-and-friendly-policies-need-of-hour-unisame/?fbclid=IwAR1Hiyhd5ss_q2Zh9r5wMHq9eOdZe09fJtRThtpaF1ZKMVOdHu02slY8TK0

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