ISLAMABAD: The Small and Medium Enterprises Development Authority (SMEDA) has implemented as many as 28 projects worth Rs.2,818.167 million during past three years to facilitate and promote small and medium entrepreneurship in the country.
Under the Public Sector Development Programme, the SMEDA established prominent projects included Agro Food Processing Facilities in Multan and Gujranwala business centers, SME Subcontracting Exchange in Gujranwala and Women Development Centers in Lahore and Peshawar, official sources said.
Besides, the SME established cutlery institute of Pakistan in Wazirabad, Glass Products Design and Manufacturing Centre and Revival of Hyderabad Leather Footwear Centre.
These projects are operational and have been providing services to SMEs, sources said adding the projects have been established keeping in view the specific needs of the SME clusters and were being implemented by SMEDA in collaboration with both the public and private sector stakeholders.
In addition, developing SME clusters of economic importance, SMEDA also has been working at the micro level through provision of technical assistance to SMEs in important industrial clusters to upgrade their skill and improve systems.
"During the period, a total of 239 manufacturing units in textile/garments, auto parts, chemical, fan and foundry were upgraded," the sources added.
Similarly 37 energy efficiency projects in light engineering, textiles and marble sectors were implemented during past three years.
The SMEDA trained about 720 individuals in diverse range of subjects for enhancing industrial expertise through a training of trainers programme.
The sources said that an SME Development Bill was also under consideration for legislation by the federal government to promote this sector and help sustainable economic development.
The authority has also developed a proposal for establishment of a Credit Guarantee Fund and a recommendations to this effect have been proposed to the ministry of finance for inclusion in the Federal Budget 2011-12.
This credit would facilitate the SMEs to have access to formal finance which has been one of major obstacles in their way to development.
Terming the SMEs as the backbone of economic growth, the sources said that this segment of economy has been promoting endogenous sources of growth and strengthens the infrastructure for accelerated economic expansion and development.
The SMEs contributes 40 percent to GDP with gross value addition of Rs.2,284.55 billion, source said adding that at the times of economic downturn, SMEs outperformed large enterprises, providing much support to overall economic growth.
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