Tuesday, September 27, 2022

SMEDA resumes matching grants

LAHORE: The Small and Medium Enterprises Development Authority (SMEDA) has resumed matching grant process for establishment of industrial stitching units across the country, a statement said on Thursday.

The grant is part of a Public Sector Development Programme funded project being implemented under the federal ministry of Industries and Production for making of 1,000 industrial units, chief executive officer of SMEDA Hashim Raza informed.

According to Raza, the authority has already issued grant to 93 SMEs. The project, he said, aims to provide financial assistance to boost value addition in the field of textile garments manufacturing through matching grants to new business startups as well as existing SMEs having adequate experience in textile-related manufacturing.

The project is targeted to establish 1000 industrial stitching units as a long run and is passing through the first phase of its 3-year operation, under which 93 units out of a target of 150 have so far been completed successfully, according to SMEDA. The current process of the grant aims to support 57 units, after which the first phase of the project would stand completed, it added.

Source: The News

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