ISLAMABAD: The Textile Division has signed a memorandum of understanding (MoU) with the Small and Medium Enterprise Development Authority (SMEDA) to establish 1,000 stitching units in Pakistan.
“In the 1st phase of the project, 150 stitching units would be established with a cost of Rs350 million,” said a statement issued by the Ministry of Commerce and Textiles on Wednesday. “The government had earmarked Rs46.2 million for the project in the current financial year (2018-19) with an aim to provide business and employment opportunities to the youth of Pakistan.”
According to details, SMEDA would be the executing agency for Phase-1 of the project, whereas the Textile Division would be the sponsoring ministry.
SMEDA shall implement the aforesaid project as per its own policy and procedures and according to the approved PC-1. The authority will design an operation manual for the said project and place the project staff, including SMEDA officials engaged with the project across Pakistan, at provincial and regional offices to monitor and supervise the implementation process.
The parties shall set up the project’s steering and scrutinizing committees to look after the overall policy formulation, implementation and outcomes as set in the PC-1 and to scrutinize the eligibility of each applicant before subsidizing the stitching centre respectively.