‘Foreign investor should buy 50pc from local sources’

KARACHI: The Union of Small and Medium Enterprises (UNISAME) has urged the government to make it mandatory for the foreign investors entering Pakistani markets to buy at least 50 percent from the local sources, especially small and medium enterprises, a statement said on Thursday.

UNISAME President Zulfikar Thaver said allowing foreign investors in the retail sector is welcome, but it needs to be well-regulated as the Pakistani industry would benefit only when those foreign investors sourced their requirements from the local manufacturers, particularly from the sectors such as handicrafts, textiles and food processing, it said.

The global players definitely played a healthy role in giving worth and value to the farm produce, innovation and help create employment, he said.

Nevertheless, they had access to global markets for their procurements and are liable to increase imports of the country.

“It is, therefore, important that the government makes it mandatory to procure from the local sources to an extent that the SMEs are included in the supply chain,” he said.

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