KARACHI - The UNISAME has advised SMEs to build their inventories to overcome the devaluation of the rupee rather than following the practice of buying dollars for temporary gains. Investing in goods is considered better and wiser and would enable the SMEs to honour commitments despite the rapid increase in prices of imported raw material and packing materials.
President UNISAME said to overcome the loss of rupee value the best method would be to purchase raw materials and build inventory and keep covered rather than investing in dollars which would be just temporary gains.
He said that the landing cost of fresh imports would increase due to the exchange rate and duty on the invoice value with applicable conversion rate so it is wiser to invest in goods rather than dollar.
“The SBP needs to comprehend the fact that separate rate for exports and imports would enable both the exporters and importers to survive and overcome the pressure and curb the rise in prices of goods and services,”he said.