August 31, 2007	Friday	Sha'aban 17, 1428

KARACHI, Aug 30: The Small and Medium Enterprises Development Authority (Smeda) will shortly develop systems for SMEs in areas of accounting, technology, production enhancement, packing, storage and logistics.

With regard to SMEs specific banking products, Smeda chief Shahid Rashid said in a meeting with members of Small and Medium Enterprises Union (Unisame) on Thursday that the authority would work on this matter with the ministry of finance.

He further stated that the Smeda would work with the national committee on SMEs for implementation of an SME policy recently announced by the government.

The authority, he said, had been taking up one industry after the other for upgradation and modernisation, such as jewellery and marble, and it was now working on furniture industry.

He also assured the participants that the authority would jointly work with trade and industry for growth of SMEs in all sectors.

Shahid Rashid informed the Unisame members to visit Smeda offices and its website and apply for the feasibility and other services available for SMEs.

Zulfikar Thaver, president of the Unisame, asked the Smeda chief to take up the basic issue of finance and technical education, raw material, marketing and logistics on a fast track to provide an enabling environment for SMEs.

He said SMEs need finance on single digit mark-up without collateral, and they also need land at concessional rates.

Other matters raised in the meeting were about product improvement, machinery up-gradation and modernisation facilities.

The Unisame members also sought uninterrupted supplies or raw material and marketing projection in international market of their products.

It was also pointed out that so far no scheduled bank had made any product for SMEs for finance at special rates. However, some of the participants drew the attention of the meeting towards the SME policy and said that there were certain grey areas which need to be corrected.

They said that definition and labour laws should be made easy for SMEs.

Mr Thaver pointed out that legislation of the SME Act during the present National Assembly session should be made.

He added that the SMEs were anxiously waiting for an SME export house, SME promotion council, SME insurance, SME institute, SME ombudsman and other supporting organisations promised in the policy.