UNISAME demands fair mark up for micro entrepreneurs

Karachi, October 04, 2016 (PPI-OT): The Union of Small and Medium Enterprises (UNISAME) delegation to the 10th Microfinance Forum organized by Shamrock Conferences urged micro finance banks to reduce their mark up rate and recover mark up on declining basis instead of flat rate.

UNISAME delegation which actively participated in the second session requested Zubyr Soomro chairman of Pakistan Microfinance Investment Company (PMFIC) to influence the stakeholders to facilitate the sector and charge affordable mark up. The exploitation must stop and the mark up rate should be revised forthwith to make it equitable, fair and transparent.

The UNISAME delegation comprised of MSME experts led by its president Zulfikar Thaver and assisted by Ali Sabih, Faisal Aftab, Ali Nasir and Muzammil Shujjat urged the State Bank of Pakistan officials to enhance the limit of financing the sector upto Rs 1 million and to include the small entrepreneurs in their fold.

Thaver said the present limit of Rs 500000 is insufficient as rupee has lost its value and if the limit is increased it will enable the MSME banks to cater to the small entrepreneurs also.
He appreciated the concept of MSME banks and welcomed the idea.

Faisal Aftab said it is paradoxical when we talk about catering to the needs of the under privileged in the undocumented sector but we bank on collateral for providing higher loan amounts.

It was heartening to note although the theme was ” Transform lives, innovate for the poor ” the word poor was omitted as by all the speakers as suggested by the union and the word under privileged was used to define the marginalized sector.

For more information, contact:
Union of Small and Medium Enterprises (UNISAME)
75/1 3rd Commercial Street,
Phase IV, D.H.A., Karachi, Pakistan
Tel: +92-21-35884225-6
Fax: +92-21-35380642
Cell: +92-300-8245307, +92-321-8245307
Email: unisame@gmail.com