The Union of Small and Medium Enterprises (Unisame) has issued a strong call to action for Pakistan’s SME sector, urging businesses to enhance their crisis preparedness strategies in light of growing global economic uncertainties and geopolitical tensions.
In a statement, Unisame President Zulfikar Thaver emphasized the need for small and medium enterprises to operate on a “war footing,” stressing resilience, strategic planning, and enhanced productivity as key pillars for survival during these volatile times. Thaver pointed out that the changing global landscape demands that SMEs act swiftly and decisively to secure their future.
Unisame outlined several crucial recommendations to help SMEs safeguard their operations:
1. Boost Productivity and Strengthen Inventory Management:
SMEs must maintain healthy inventories of essential raw materials and finished goods to shield against potential supply chain disruptions. Unisame stressed the importance of maximizing output through effective resource utilization and ensuring workforce readiness.
2. Repatriate Foreign Currency Reserves:
Highlighting potential risks associated with holding US dollars abroad, Unisame advised SMEs to repatriate their foreign savings. The organization recommended diversifying assets into stronger and more stable currencies such as the Euro or the Chinese Yuan, tied to export-driven economies.
3. Focus on Domestic Production of Import Substitutes:
To reduce dependence on imports, Unisame encouraged SMEs to ramp up local production, particularly in sectors like vegetable oils, using sunflower, soybean, or canola seeds. The council also called for increased manufacturing of emergency goods, including tents, non-perishable food items, solar lamps, medicines, and essential household supplies.
In addition, the Unisame Council urged SMEs to ensure their commercial vehicles and logistical networks are fully functional and ready to respond to any crisis scenario. Thaver noted that retaliatory tariffs and economic sanctions could further complicate the global trade environment, making vigilance and preparedness more important than ever.
“While we remain hopeful for diplomatic solutions, it is critical that SMEs take prudent steps now rather than later,” Thaver cautioned. “Preparedness today could mean survival tomorrow.”
Unisame reaffirmed its commitment to guiding SMEs through turbulent times, offering support through policy advocacy and strategic frameworks. By following Unisame’s advisories, SMEs can not only protect their businesses but also contribute to strengthening Pakistan’s broader economic resilience.