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SMEDA asked to identify high-potential sectors of SMEs

Advisor to Prime Minister on Commerce, Textile, Industry, Production and Investment Razak Dawood has directed the Small and Medium Enterprises Development Authority (SMEDA) to identify high-potential sectors of SMEs and devise development strategies to create new opportunities for employment generation and export promotion in the country.

He was talking to the SMEDA officials during a briefing session. He also advised them to develop strategies to offer equitable business prospects for all provinces of the country. The mineral sector in Baluchistan and the tourism sector in Khyber Pakhtunkhwa should be focused exclusively for development on modern lines, he added.

Razak Dawood said that SMEDA has an important role to play in achieving economic agenda of the government. He directed the SMEDA officials to develop viable policy proposals to help SMEs access finance, technology up gradation and also provide support for creating market linkages. To lay down realistic policies for SMEs, he asked SMEDA to review the number of SMEs location-wise across the country and also revisit the definition of SMEs in consultation with eminent economists and stakeholders of the SME sector.

Earlier, SMEDA Chief Executive Officer Sher Ayyub Khan apprised the Advisor of services, products and projects undertaken by SMEDA for SME promotion. He said SMEDA had facilitated an investment of over Rs 29.73 billion during the last decade through handholding of SMEs and up-gradation of existing SME clusters by providing them common facility centers financed through the Public Sector Development Program.

Through interaction with SME sector stakeholders, SMEDA had identified certain potential clusters of SMEs which were unable to tap export market despite surplus production due to unavailability of modern technology. He also shared details of the Agro Food Processing Facility Multan set up for producing mango pulp and Sports Industries Development Center, Sialkot, which had been set up to produce world class mechanized sports balls. He shared that the common facility centers set-up by SMEDA were providing the local clusters with access to technology and training to develop a new breed of skilled labour.

Establishment of Prime Minister - Chief Justice Fund for Diamer Basha and Mohmand Dam

The Prime Minister has been pleased to call for public donations for PM - CJ Fund for Diamer Basha and Mohmand Dam. The Fund details are as under:

 

Bank: State Bank of Pakistan
Title: SUPREME COURT OF PAKISTAN
Account No: 03-593-299999-001-4
IBAN: PK06SBPP0035932999990014

 

State Bank has Announced "Refinance and Credit Guarantee Scheme for Women Entrepreneurs in Underserved Areas"

State bank of Pakistan (SBP) has announced new loan scheme namely “Refinance and Credit Guarantee Scheme for Women Entrepreneurs in Underserved Areas”. The maximum loan amount is Rs. 1.5 million. SBP has also formulated a committee for implementation and monitoring of the scheme.  SMEDA-KP is the member of this committee. The main responsibility of SMEDA-KP member is development of marketing plan, networking & advocacy, identification of SMEs clusters/individuals.

In this regard, SMEDA-KP and SBP organized a one-day awareness session at Shaheed Benazir Bhutto University, Peshawar (SBBU), the session was attended by large number of students & faculty members. The session was chaired by SBP deputy chief manager  Mr. Kamran Khan while Ms. Nabila farman (SMEDA), Rashid Aman (SMEDA), Ms. Nuzhat Rauf (WCCIP) and regional head NBP were the key note speakers in the session.

The salient features of the scheme are as follow:

  • This facility is for women entrepreneurs in underserved areas of the country for setting up of new businesses or expansion of existing ones
  • SBP will provide refinance to banks at 0%.
  • Maximum financing amount is Rs 1.5 million.
  • Maximum financing period is 5 years with grace period of up to 6 months.
  • End user rate is 5% which is locked in for financing period.
  • 60% risk coverage is available against outstanding principal.
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