APBUMA Demands Maximum Facilitation For SMEs To Enhance Exports

The All Pakistan Bed-sheets and Upholstery Manufacturers Association (APBUMA) has demanded maximum facilitation for the Small & Medium Enterprise (SME) sector to enhance national exports

FAISALABAD, (UrduPoint / Pakistan Point News - 6th Dec, 2024) The All Pakistan Bed-sheets and Upholstery Manufacturers Association (APBUMA) has demanded maximum facilitation for the Small & Medium Enterprise (SME) sector to enhance national exports.

In a statement here on Friday, Central Chairman APBUMA Imran Mehmood Sheikh said that partial payment of sales tax refund is not enough to give a quantum jump to the exports rather the government should ensure payments of all manual cases in addition to the clearance of already issued RPO positively within 72 hours under FASTER system of the Federal Board of Revenue (FBR).

He said that the exports have recorded a satisfactory increase after a lapse of many years and at this critical stage, the government must facilitate SMEs to get maximum export orders in the fast changing regional and global business scenario.

He said that SMEs have limited financial resources and each export order takes 3-5 months duration to materialize till the receipt of foreign proceeds.

"SMEs exporters are unable to get new orders as a major chunk of their finance is stuck up in the refund regime", he said and added that the government must carve out a new strategy to clear small amounts of sales tax refunds on priority basis so that the SME sector could keep their business circle rolling without any interruption.

He said that shortage of cash has been haunting them for the last many years. The allocation of separate funds for SMEs would help them fulfill their export commitments without any unnecessary delay, he added.

He also demanded that the bank markup rate may also be brought down into single digit so that SMEs could meet their immediate and emergency financial needs from commercial banks.