SMEDA’s upcoming initiative aims to mobilise Rs8 billion

LAHORE: Small and Medium Enterprises Development Authority (SMEDA) is launching a new initiative to mobilise an investment worth Rs8 billion into the sector, a statement said on Wednesday.

“The National Business Development Programme, to be set in motion this year, will facilitate over 3.14 million small and medium enterprises over a period of five years,” said Sher Ayub Khan, chief executive officer SMEDA, addressing a meeting at the authority’s head office.

“As many as 3,800 training programmes will be organised under the initiative to be supported with 761 over-the –counter documents on feasibility reports, regulatory procedures, HR and technology.”

Khan said the programme would also arrange 913 business startup grants and 500 international certifications besides compiling 23 market research papers.

“A concrete plan bearing support services needed by the small and medium enterprises has been chalked out,” he said adding the plan includes management development support, service acquisition support and favorable policy support.

The Small and Medium Enterprises Development Authority chief pointed out that another important demand regarding access to finance had also be addressed under the programme, as it would be providing credit worthiness assessment support to over 9,500 small and medium enterprises to facilitate them get credit from the formal sources.

“The programme would enable local small and medium enterpises to make quantum leaps in technology upgrade, capacity development and marketing linkages in and out of the country,” Khan said.

He added that in view of the access to valuable information on world trade and internationalisation of the small and medium enterprises to be done under the programme, the businesses would be able to increase Pakistan’s share in the export markets to an optimal level by making an overall economic value-addition of about Rs 3.5 billion.

“The plan will cost Rs1.955 billion, out of which an amount of Rs250 million has been allocated from the PSDP (Public Sector Development Programme) budget for 2017-18,” the Small and Medium Enterprises Development Authority head added.