KARACHI- The revisiting of the SME policy by the Federal Minister and his team will enable the government to understand the needs and importance of the sector and will broaden their perspective on the fast track procedure for stimulating the economy.

The UNISAME expressed appreciation to minister for his plan to revisit the SME Policy 2007 and implement the policy in letter and spirit and highlighting the importance of the sector at the Dubai Conference.

According to statement, President UNISAME Zulfikar Thaver said the union is thankful to the minister for his plan for the SME sector and to complete the agenda conceived by PM Nawaz Sharif during his previous tenure as PM.  He said the SMEDA was conceived by the PM but due to the derailment of his government it was left incomplete. The union is confident that the government will leave no stone unturned in the promotion and development of the sector on priority basis and adopt the scientific approach for jump start of the economic growth.

The SME policy assessed that the sector needs an SME specific bank, a leasing company and an insurance company to meet the major requirements of banking, leasing and insurance.

The sector also needs an SME export house, a technical institute and a logistics company to cater to the needs of export marketing, transfer of technology and modern logistics based on collateral management.

Needless to state that an SME chamber of commerce is needed to support the sector and link it to international chambers for interaction and global networking.

Thaver said that the SME policy drafted by the National Committee for SMEs (NCSMEs) and the SME task force stressed on the need for state of the art industrial estates for SMEs with alternate energy power generation systems and also full security systems for the safety and welfare of the entrepreneurs.