Automotive, textile industries need urgent attention: UNISAME

Automotive, textile industries need urgent attention: UNISAME

The Union of Small and Medium Enterprises (UNISAME) has raised a valid concern regarding the urgent attention required by the government for the automotive and textile industries.

These two industries are the backbone of Pakistan’s economy, and their potential losses could have a long-lasting impact on the country’s economic growth.

The automotive industry is facing challenges due to the lack of support from the government. UNISAME has urged the government to engage in talks with the Japanese and Korean governments to secure long-term agreements for the export of brands and parts to developing countries. This step will not only benefit Pakistan’s automotive industry but will also enhance the country’s trade relations with these nations.

Similarly, the textile industry is facing financial difficulties due to the lack of credit facilities. UNISAME has suggested that the government should facilitate negotiations between the textile industry and foreign buyers to supply cotton on credit, with the value to be adjusted against the purchase of textile goods. Such arrangements will help revive the textile industry and provide a much-needed boost to Pakistan’s exports.

It is crucial to note that the SME sector is the backbone of Pakistan’s economy, and its survival is directly linked to the growth and stability of the larger industries. UNISAME has highlighted the government’s lack of action and focus on politics, which has resulted in delayed decisions and insufficient support for the SMEs. This situation is alarming and requires immediate attention from the government.

The government must take proactive measures to ignite the economy and support the SME sector. The exchange or barter agreement suggested by UNISAME could be a promising way to boost the economy and promote trade relations. However, this requires the government’s active involvement and support to initiate and execute such agreements.