Smeda facilitates Rs 9,500-mn investments for transport sector

Lahore: The Small and Medium Enterprises Development Authority (Smeda) has facilitated investment of Rs 15340.96 million during first decade of its operation, out of which Rs 9,500 million investment was in the Transport Sector only.

Smeda Chief Executive Officer Shahid Rashid disclosed this while addressing a press conference at Smeda Head Office to mark the completion of first decade of Smeda, which was established on October 13, 1998.

He said that Smeda had trained 50,367 personnel in SME sector by organising 971 training programs in the fields of agriculture, technology and management.

About the future plans, about the future target, he said that Smeda is expected to enhance value addition of Rs 5159.73 million in SME sector over the next 10 years through its projects.

Jameel Afaqi and Iftikhar Hussain, General Managers, Alamgir Chaudhry, Provincial Chief, Smeda-Punjab and Liaqat Ali Gohar, Deputy General Manager were also present on this occasion.

Shahid Rashid said that the investment facilitation was made possible through program lending schemes designed for various SME sectors including fisheries, transport, furniture, power loom, cutlery, auto parts, carpet, footwear, khaddar, mining and textile. The major banks involved in these schemes were NBP, Bank of Khyber, SME Bank, and the Union Bank.

CEO, Smeda presented a review of the performance of his organisation on its tenth anniversary. He stated that Smeda, despite having a tiny structure with a small group of about 130 professionals, was striving to provide support and facilitation to the maximum number of SMEs around the country.

The sector development strategies facilitated by Smeda, in collaboration with other stakeholders, in fisheries, transport, dairy, gems and jewellery, marble and granite, furniture, surgical instruments, textile and leather sectors are contributing to enhancement of trade and investment, besides creating a number of employment opportunities and fresh avenues for exports.

For instance, the Urban Transport Strategy of Smeda had created 8,500 new jobs by bringing an investment of Rs 9.5 billion and developing urban transport city network in seven cities ie Lahore, Karachi, Faisalabad, Rawalpindi/Islamabad, Sargodha, Multan and Gujranwala, he added.

Based upon Smeda's sector development strategies, Shahid Rashid said that seven new implementing agencies, in private-pubic partnership, such as Pakistan Dairy Development Company, Pakistan Gems and Jewellery Company, Pakistan Hunting and Sports Arms Development Company, Pakistan Stone Development Company, Pakistan Horticulture and Export Development Board and Agri-mall were now working actively for uplifting the respective sectors for increased exports, employment and investments.

He said that by undertaking 16 projects of Rs 1.68 billion investment under Public Sector Development Plan, Smeda has considerable work on ground. He said that the projects initiated by Smeda under PSDP had a significant importance in development of infrastructure for small and medium industries and business throughout the country.

The projects include Gujranwala Business Center costing Rs 98.78 million, Agro-food Processing Plant, Multan costing Rs 135.19 million, Support Industries Development Center, Sialkot costing Rs 272.61 million, Women Business Incubation Center, Lahore costing Rs 31.22 million, Glass Product Design and Manufacturing Center, Hyderabad costing Rs 37.08 million.

Revival Project of Cutlery Institute, Wazirabad costing Rs 39.36 million, Chromites Beneficiation Plant, Balochistan costing Rs 8.38 million, SME Subcontracting Exchange, Lahore and Gujranwala costing Rs 26.09 million, Women Business Incubation Center, Karachi costing Rs 34.03 million, Revival Project of Hyderabad Leather Footwear Center costing Rs 35.01 million.

Women Business Development Center, Peshawar costing Rs 28.41 million, Washing and Pressing Plant, Matta Mughal Khel, NWFP costing Rs 5