PIAF welcomes SME Policy

Lahore: Senior Vice Chairman Pakistan Industrial and Traders Associations Front (PIAF) Nasir Hameed Khan along with Vice Chairman PIAF Javed Iqbal Siddiqui in a meeting with a delegation of traders at Gulberg office said that the SMEs 5-year policy is a welcome step of the government.
The government’s move to provide soft loans of up to 83% discount will be given and there is also no requirement of NOC, they said.
While women are also offered 25% tax rebate, it is imperative for the government to make this policy a success to promote industries and reduce unemployment,” they said
“Small industry is an important pillar of the economy. However, high energy, unreasonable taxes and cheap imports and the Corona epidemic have severely damaged small and medium enterprises.
” And eliminate unnecessary taxes on the cottage industry and expand this scope.  In order to increase economic activity, small and medium scale industries not only reduce unemployment in any economy but also their involvement in an agro-industrial country like Pakistan is essential,” they said.
Nasir Hamid said that for the development of small scale and cottage industry  Immediate steps should be taken.
” Relief to small traders and industrialists and creation of facilities for the business community is the primary responsibility of the state,” he added.
Javed Siddiqui said that along with new industrial estates, efforts would also be made for revival of sick units  Will be worked on.
In consultation with the entire business community, the problems of the industries will be resolved on a priority basis and the problems of the industrial estates will be resolved in a phased manner so as to increase the industrial potential.