EU to invest $54m for SMEs in Sindh, Balochistan

ITCP will start a five-year programme for poverty alleviation

ISLAMABAD: European Union has decided to start a project to promote small and medium-sized businesses in Sindh and Balochistan with a cost of $54 million dollars.

International Trade Centre (ITC) will start a five-year programme for poverty alleviation with the funding from European Union. The project will be monitored at three levels including the government of Pakistan.

Small scale agrarian business will be promoted in Sindh and Balochistan under Growth for Rural Advancement and Sustainable programme.

Small and medium scale businesses in agriculture sector in Sindh and Balochistan face several challenges. Production, services, access to market and information on agriculture needs to be provided. The lack of technology and skilled manpower creates difficulties in the processing of agriculture goods.

New employment opportunities will be created and women will be included in the development of the country. The income of small scale farmers will increase and growers of selected areas of Sindh and Balochistan will be provided training in modern technology.

Adviser to Prime Minister on Commerce Abdul Razaq Dawood said that the project will play a pivotal role in the economic progress of the country.

The project will be monitored by three steering committees and completed in 2024.