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27 projects worth Rs. 2.588 billion dedicated for SMEs sector promotion.

ISLAMABAD, March 20, 2012 (Balochistan Times): The government has dedicated 27 projects with cost of Rs. 2.588 billion for promotion of Small and Medium Enterprises (SMEs) sector. The development portfolio of Ministry of Industry contains 40 projects at a total cost of Rs. 5.430 billion, of which 27 are dedicated for SMEs sector only. These projects are being implemented through platform of Small and Medium Enterprises Development Authority (SMEDA), a senior official said here on Monday. The official said total number of Small & Medium Enterprises (SMEs) in the country is approximately 3.2 million and these are being given due importance as an amount of Rs. 663.46 million has been allocated this year to ensure growth in the sector. Listing details of measures, adopted to uplift SMEs in the country, he said dedicated legal services cell, through its help desks at all SMEDA regional offices are working to assist SMEs in resolving their legal issues. SMEDAs Accounting Package has also been developed to assist SMEs in maintaining cost effective accounting systems, he said and added strategy development for Furniture and Surgical Instrument sector was completed whereas Leather Sector Development Strategy is being developed. The official said SMEDA in collaboration with international agencies like Japan International Cooperation Agency (JICA), Senior Experts Services (SES), Germany and Asian Productivity Organization (APO) and Local experts is providing technical assistance to SMEs. The Authority in partnership with JICA has also been involved in an on-going Industry Support Programme to provide expert advice to Textile & Auto Sector. Moreover, he said SME Development is the largest component of Economic Revitalization of Khyber Pakhtunkhwa and FATA (ERKF) Project, adding that the component aims at providing direct support to local SMEs to accelerate economic recovery in the two regions affected by crisis and floods. ERKF is World Bank funded project and total cost of the project is US $20 million. The official said SMEDA conducts a round of consultation with different stakeholders for obtaining views and inputs related to the SMEs sector for compiling Budgetary and Trade Policy proposals while Chambers of Commerce & Industry and Trade Associations are also involved in various activities being carried out by SMEDA at regional level.

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Publication:Balochistan Times (Baluchistan Province, Pakistan)
Date:Mar 20, 2012
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