UNISAME sees tough regional economic competition

Karachi: The Union of Small and Medium Enterprises (UNISAME) has urged the Ministry of Commerce (MINCOM) to roll up its sleeves for a tough competition from India with Narendra Modi as the new prime minister and considered as economic savior who is capable of energizing the economic sector by virtue of his strong economic agenda and now having a free hand to take policy decisions because of the majority in the lower house.

President UNISAME Zulfikar Thaver said when Modi was the chief minister (CM) of Gujrat, for 12 years, he brought about unprecedented economic development. The economy registered a growth of nearly 10% and he played an instrumental role in this growth making the state business-friendly by strengthening infrastructure facilities, enhancing bureaucratic efficiency and thus pushing rapid industrialization and attracting massive investments. With industrialization the exports increased and India captured important markets.

With his track record and reputation of being a business friendly leader it is expected that the economy and exports will grow and it is very important that Pakistan prepares for the tough competition from India and takes positive business friendly steps to promote exports and investments and offers a conducive business friendly environment to the businessmen to face the challenges of high cost of doing business, law and order, energy and modernization.

UNISAME has urged the MINCOM to examine the aspects which can promote exports of textiles, rice, maize, engineering goods, services, fruits and vegetables with value addition and facilitate the exporters accordingly. Pakistan has vast potentiality for increasing exports and with little extra efforts and serious focus with expert advise Pakistan can achieve remarkable results.

Pakistan needs to regain important global markets by implementing bold positive steps of export promotion.

UNISAME has suggested that Pakistan’s exports can be increased manifolds if the government establishes an export credit guarantee scheme for the exporters to enable them obtain finance from banks for export to third world countries and makes the banks comfortable in financing the exporters by pre-shipment and post shipment finance at affordable mark up and giving them incentives. 

The post UNISAME sees tough regional economic competition appeared first on Pakistan Press International.

Leave a Reply