UNISAME dismay over absence of SME representation in EAC

April 29, 2022: The Union of Small and Medium Enterprises (UNISAME) whilst felicitating Prime Minister PM Shebaz Sharif on constituting the 22 member Economic Advisory Committee (EAC) regretted that it does not have a single representative of the majority SME sector of the economy.

UNISAME president Zulfikar Thaver lamented that the EAC will remain incomplete and it is very important to have a representative of the underprivileged sector to avoid conflict of interest as billionaire members will naturally pursue their own interests first.

He stressed that It is very necessary that the SME policy is implemented in letter and spirit and priority is given to the sector. This sector is acknowledged as the backbone of the economy, the engine of growth, the vehicle for employment and the tool for poverty alleviation and it is very surprising that their representative is not included.

The majority sector is facing challenges due to depreciation of the rupee, and the high cost of production. Inflation is also crippling as it is reducing buying power and affecting sales and services, there is no marketing support from the government and the burden of taxation is unbearable. Without a representative from the SME sector, the EAC will have nobody to speak about the challenges of the underprivileged and the billionaires will highlight their vested interests.

The UNISAME Council has urged the PM to include at least two members one from the Small and Medium Enterprises Development Authority (SMEDA) and one from UNISAME to fill the much-needed representation from the small to the medium-sized sector.

Press Release