Chief Executive Officer of the Small and Medium Enterprises Development Authority (SMEDA) Sher Ayub Khan, has envisaged that National Business Development Program to be launched by SMEDA this year would mobilize an investment worth Rs. 8 billion. While addressing a meeting at SMEDA Head Office on Tuesday, he informed that the program would facilitate over 3.14 million SMEs over a period of five years.
CEO SMEDA further told that as many as 3,800 training programs would be organized under the program to be supported with 761 over-the-counter documents on feasibility reports, regulatory procedures, HR and technology. The program 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 SMEs has been chalked out, he said adding that the plan includes management development support, service acquisition support and favourable policy support, which were being demanded by the local SMEs since a long time.
CEO SMEDA pointed out that another important demand regarding access to finance had also be addressed under the program, as the program would be providing creditworthiness assessment support to over 9, 500 SMEs to facilitate them having credits from the formal sources.
Mr Khan hoped that the program would enable local SMEs to make a quantum leap in technology up-gradation, Capacity Development and Marketing linkages within and out of the country. In view of the access to valuable information on world trade and internationalization of the SMEs to be done under the program, he expressed confidence that the SMEs 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 program will cost Rs.1.955 billion, out of which an amount of Rs.250 million has been allocated from the PSDP budget of 2017-18, CEO SMEDA added.