Sindh need lag behind in industrialization

Karachi, October 06, 2016 (PPI-OT): The Union of Small and Medium Enterprises (UNISAME) held a meeting on 5th October 2016 with Sindh Enterprise Development Fund (SEDF) and Small Medium Industrial Leasing Estates Pvt Ltd (SMILE) to encourage, support ,facilitate and motivate the shy SME agro based industries to obtain subsidized finance for their units in Sindh.

The meeting aimed at stimulating the entrepreneurs to modernize their units and expand their lines of trade and to this effect it ended in a firm resolution to revive all closed rice and commodities units in Sindh in the shortest possible time with the help and support of SEDF, SMILE and UNISAME.

The SMILE Pvt Ltd is a facilitating company with the aim and objective to facilitate the SME farmers, shellers, processors and exporters of rice, spices and commodities and enjoys the institutional support of SMEDA and SEDF and the farmers associations.

Mehboob ul Haq the CEO of SEDF said that Sindh Enterprise Development Fund (SEDF) has been created by the Government of Sindh to encourage investment in the Agro sector both for On-Farm and Off-Farm activities with a view to facilitate efficient production, processing and marketing for wider economic gains. It has the aim and objective to promote agro based industries in Sindh.

Khush Junejo co-ordinator projects SEDF said the fund provides technical and financial support to SMEs in the rural economy by providing opportunities for value addition in the agriculture sector for multiple economic benefits on intermediary services and productivity on fast track basis

Zulfikar Thaver president UNISAME and chairman Capacity Building Group , Technical Committee National Financial Inclusion Strategy (NFIS) said the fund would provide mark-up (KIBOR Portion) subsidy to such enterprises which intends to upgrade their basic industry by introducing technology or setup new projects in the agro sectors by introducing value addition on the basis of modern trends and techniques. It would also provide the balancing, modernization and replacement
( BMR) finance to rice mills.

He and other participants urged the CEO SEDF to simplify the documentations and ensure prompt disbursements.

There is need to accommodate new entrants and guide them to do business profitably and SMILE Pvt Ltd offered to help the new entrants and carry out the incubation for their training.

For more information, contact:
Union of Small and Medium Enterprises (UNISAME)
75/1 3rd Commercial Street,
Phase IV, D.H.A., Karachi, Pakistan
Tel: +92-21-35884225-6
Fax: +92-21-35380642
Cell: +92-300-8245307, +92-321-8245307