Govt sanctions Rs3.2 billion funding for five SME projects

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LAHORE: Projects suggested by Small and Medium Enterprises Development Authority (SMEDA) of Rs3.2 billion have been given go-ahead by the government under Public-Sector Development Programme (PSDP) 2017-18.

A Product Development Center for Composite-based Sports Goods (Sialkot), National Business Development Programme for SME’s across Pakistan, Fruits Vegetables and Condiments Processing Center (Naushero Feroz), Fruit Dehydration Unit (Swat) and Business Skill Development Centres for Women. have been approved by the government, reported a English daily.

Over Rs287.7 million, Rs250 million, Rs321.5 million, Rs20 million and Rs28 million has been approved under PSDP for these projects.

SMEDA CEO, Sher Ayub Khan said since coming under PSDP in 2006, the institution had carried out Rs5,798.20 million worth of investment in over 27 projects across Pakistan and 19 of these had been completed.

During the meeting, Khan apprised the participants that SMEDA projects were operating under public-private partnership model and running as common facility centres. He added several SME groups under these projects had availed state-of-the-art technology training and capacity building services to meet international standards.

According to SMEDA CEO, these new projects given go-ahead by the authorities would allow to improve quality and capacity of SME’s.

The outreach department of SMEDA is communicating with SME trade bodies to be aware of emerging needs in several SME groups, to allow for planning supportive projects for them.