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KCCI advises SMEs to benefit from PSI funding.

KARACHI Karachi (kərä`chē), city (1998 pop. 9,269,265), largest city and former capital of Pakistan, SE Pakistan, on the Arabian Sea near the Indus River delta. The capital of Sind prov. , October 13, 2010 (Balochistan Times ): Senior Vice President, Karachi Chamber of Commerce and Industry (KCCI KCCI Karachi Chamber of Commerce and Industry
KCCI Korean Chamber of Commerce and Industry
KCCI Karnataka Chamber of Commerce and Industry (India) 
), Tallat Mahmood has emphasized that entrepreneurs should come forward and make use of the excellent offer by Netherlands in the form of Private Sector Investments (PSI). Speaking at the PSI introductory presentation by Royal Netherlands Embassy here, Tallat Mahmood said Pakistan is confronted with many internal and external challenges. Flood calamity has hit the economy and the infrastructure has been badly affected, said a KCCI statement here on Wednesday. He felt pleased that the goodwill gesture from Netherlands is really a welcoming sign. KCCI Vice President Junaid Esmail Makda said the SMEs are the backbone of an economy and the offer of Netherlands deserves appreciation. KCCI would like to circulate cir·cu·late  
v. cir·cu·lat·ed, cir·cu·lat·ing, cir·cu·lates

v.intr.
1. To move in or flow through a circle or circuit: blood circulating through the body.

2.
 details of PSI to its members and suggest businessmen to make use of this excellent opportunity. PSI Project Adviser, Paul Schoenmakers elaborating the PSI programme said it offers up to 60 percent funding to Pakistani projects (SMEs) having a maximum cost of Euros 1.5 million. This funding is aimed at alleviating poverty and strengthening private sector investment with an annual budget of Euros 70 million. Available under 40-60 arrangements, it is subject to evaluation by the Dutch government officials. Another mandatory requirement is selecting a foreign partner which would also result in knowledge transfer and attaining technical expertise. The funds are released during the project after achieving predefined results. The evaluation criteria include partners expertise, organisational capacity and financial strength, he said. The Netherlands envoy envoy: see diplomatic service.

Envoy - Motorola's integrated personal wireless communicator. Envoy is a personal digital assistant which incorporates two-way wireless and wireline communication.
 said the fulfilment ful·fill also ful·fil  
tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils
1. To bring into actuality; effect: fulfilled their promises.

2.
 of Corporate Social Responsibility, knowledge transfer and its spin off effects are few things that are necessary part of evaluation criterion. Under this programme, one project in sports wear in Pakistan has already been completed. Three projects in chemical industry and dairy sector are in progress while another three are under consideration. An obligatory format for the project proposal can be downloaded from www.agentschapnl.nl/psi <http://www.agentschapnl.nl/psi>.

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Publication:Balochistan Times (Baluchistan Province, Pakistan)
Geographic Code:9PAKI
Date:Oct 13, 2010
Words:330
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