SMEs body urges steps to make Pak rupee stable

ISLAMABAD (APP) - The Union of Small and Medium Enterprises (UNISAME) has urged the sponsors of the 3rd SME conference to be held on Aug 8 to highlight the urgent need of stabilizing the Pakistani currency for economic stability which is vital for growth.
Showing concern over the devaluation of the Pakistan rupee against the US dollar, President of UNISAME Zulfikar Thaver said that the import of raw material, packing material and plant, equipment, parts and machinery will become costly and it will increase the cost of production.
Similarly, the temporary benefit to the exporters who will earn more for every dollar will soon be wiped out by their own purchase of inputs, he said while talking to CNBC. Zulfiqar Thaver called upon the policy makers to take notice of the devaluation of Pakistani rupee.
The union has recommended two separate rates for exports and imports considering the fact that exports will increase but at the same time imports will become costlier due to decrease in value of rupee. The govt should fix separate rates for exports and imports in such a manner that exporters get favorable rates and importers get reduced rates and the cost of production is not increased unreasonably, he said. He also demanded that the issues of the SMEs regarding unavailability of finance, non-conducive environment, lack of facilities, poor infrastructure, lack of incentives and high cost of land be emphasized and reported at the conference to draw the urgent attention of the policy makers.
He urged the stakeholders to demand a survey of SMEs area-wise, industry-wise and size-wise to help government understand the requirements of the sector in its true perspective and take remedial measures for this majority sector.