The Small and Medium Enterprise Development Authority (Smeda) is planning to set up a Common Facility Centre (CFC), at an estimated cost of Rs100 million, for the manufacture of textile machinery and agriculture implements.
Smeda Chief Executive Officer (CEO) Alamgir Chaudhry said that the body has requested the Faisalabad Chamber of Commerce and Industry (FCCI) to facilitate the establishment of the centre.
Addressing the FCCI’s Executive Members, Alamgir said that Small and Medium Enterprises (SMEs) are baseline for industrial development and establishment of major units. “Smeda is helping SMEs to invest and start their own business in many different sectors including textile machinery manufacturing, agricultural implements and foundry etc,” said the CEO. “The government is fully aware of SMEs’ importance and is extending support for the segment’s development.”
In appreciation of the Youth Loan Scheme introduced by the prime minister, Alamgir stated that the youth is the key to drag Pakistan out from the economic quagmire. “We are trying our best to harness the mental faculties of our youth and encourage them to start their own initiatives of small units,” added Alagmir. “This will lessen the dependency on government jobs and create more employment opportunities in Pakistan.”
Regarding the CFC, the Smeda chief said that SMEs have already introduced different centres for numerous sectors in parts of the country and the textile-related CFC at Faisalabad will reorganise the sector. He added that Smeda has conducted studies for various products in different sectors and the youth can select any of them to initiate their own business.
FCCI President Suhail Bin Rashid appreciated the efforts of Smeda for SMEs’ development and said that the innovation could be introduced in the industrial and manufacturing sector.
“We are fully aware of the activities of Smeda and the Office of Research Innovation and Commercialisation, University of Agriculture in Faisalabad, is also working along the same lines,” said Rashid.
Published in The Express Tribune, August 8th, 2014.