SMEDA to set up stitching units

LAHORE: The Small and Medium Enterprises Authority (SMEDA) and All Pakistan Textile Mills Association (APTMA) have agreed to join hands to set up new 1,000 stitching units to increase textile exports of the country, a statement said on Thursday.

With the initiative, SMEDA is eyeing the country’s textile exports reaching up to $50 billion from the present level of $20 billion. The understanding was reached in a meeting between Hashim Raza, CEO SMEDA, and an APTMA delegation headed by its chairman Hamid Zaman.

“Development of small and medium enterprises is the key for the economic revival and sustainable growth of the country,” Raza said. He emphasised that there was a need to give due attention to small and medium enterprises, which could help improve the GDP growth and create employment opportunities.