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Govt approves financial assistance program for SME sector

Govt approves financial assistance program for SME sector

FAISALABAD. Government of Pakistan has approved Certification Incentive Program (CIP) with an estimated cost of Rs75 million. Under this project financial assistance will be given to the SME sector to get certification for export purposes during the next 3 years.

This was disclosed by Chaudhary Muhammad Ashraf Additional Secretary Ministry of Science and Technology (MOST). He was addressing an awareness session on CIP in All Pakistan Bed sheets and Upholstery Association (APBUMA). The function was also addressed by Engineer Bilal Jameel Senior Vice Chairman (SVC), Taj-ud-Din Mansha Secretary General, Saheen Raja Project Manager, Imran Mehmood, Arif Ehsan Malik, Farooq Khan, Muhammad Amaar Saeed, Mian Azhar Majeed and Zafar Iqbal Sarwar.

Giving a detailed presentation on CIP, Saleem Raja Project Manager told that there are more than 2.3 million SME’s. These units have potential to contribute their role in national export but due to financial constraints they are handicapped to get costly certification which is a mandatory requirement of all developed importing countries. He said that under this project MoST will provide financial assistance from Rs. 1 to 4 lacs and for this purpose they have to just fill a form. Regarding PCSIR, he told that it is one of the biggest and most credible R&D organizations of Pakistan. Its ultimate objectives are to facilitate local industrial sector to resolve their technological problems.

Earlier in his address of welcome Engineer Muhammad Bilal SVC APBUMA underlined the importance of Faisalabad and said that this city is the main hub of industrial and economic sector which is growing at a much faster pace.. He appreciated the efforts of the government to drag out textile sector from the persistence prices. He demanded that PCSIR should setup its offices and laboratories in Faisalabad to provide certification facilities to the local SME sector.

Later Mian Azhar Majeed Sheikh presented APBUMA shield to Chaudhry Muhammad Ashraf Additional Secretary MoST.