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Reduce imports & lift exports, advice experts to SMEs
03
Nov '08
The textile industry of Pakistan has been facing increasing problems due to international financial crunch, internal inflation and inadequate power supply, causing serious damage to the industry. Experts believe that if aggressive steps are not taken soon to remedy the situation, industry will be ruined.

In an effort to help avoid this catastrophe, Union of Small and Medium Enterprises (UNISAME) has provided some valuable advice to the SMEs.

The Union said that this is the perfect time to set up import substitution and export oriented industries as imports have become very costly and exports will fetch more rupees, considering the difference between Dollar and Rupee values.

President Zulfikar Thaver of UNISAME sent an urgent request to the Small and Medium Enterprises Development Authority (SMEDA), urging the authority to prepare a list of imported items which can be manufactured in Pakistan.

He said that assistance from Engineering Development Board (EDB), Pakistan Council of Scientific and Industrial Research (PCSIR) and foreign collaborations can also be arranged for this purpose.

President further stressed that many chemicals, footwear, apparel and related products are being imported from various countries, but can be manufactured in Pakistan if proper technical guidance is made available to the manufacturers.

He assured the businesses that most of the banks are on sound footings and are capable of aiding the companies financially. State Bank of Pakistan (SBP) will also back them completely.

Reportedly, banks are opting to fund SMEs as they are easier to handle and is yet a large and profitable sector.

Finally, he encouraged the SMEs to revamp their manufacturing processes and administration and accept this challenge, which will definitely open doors to a brighter future.

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