KARACHI: The Union of Small and Medium Enterprises (Unisame) has invited the attention of Federal Finance Minister Ishaq Dar towards the shortcomings in the economy, wherein the rich are becoming richer and the poor becoming poorer. President Unisame, Zulfikar Thaver said the majority is ruled by the minority who are rich and have their wealth invested in foreign lands. He said that the Pakistani rupee depreciation is denting the economy but the rich families in Pakistan are benefiting by purchasing the US dollar and adding to their wealth. He urged the government to provide utilities and pharmaceutical products at subsidised rates to the lower income group. Thaver said that the import duty on luxury goods should be increased whereas the exchange rate for import of raw material and packaging material should be lowered to promote exports. The union chief said that the banks need to be directed to finance the private sector and shift their investment portfolio from government to the entrepreneurs.
Published in The Express Tribune, October 12th, 2013.
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