Govt assisting SMEs infrastructural development to reduce poverty
ISLAMABAD: The government has made strategic shift in its strategies to assist infrastructural development of Small and Medium Enterprises (SMEs) in order to enhance productivity and exports of this particular sector to help reduce poverty in the country, sources said on Tuesday. Currently, the Small and Medium Enterprises Development Authority (SMEDA) is implementing 28 projects under the public sector development programme with a total estimated cost of Rs2.8 billion in major SME clusters, the official sources said. The impact of these projects on the overall development and prosperity would be tremendous and will result in enhancing the standard of living, poverty alleviation and human resource development, they said. In addition to the implementation of a PSDP project portfolio, SMEDA in collaboration with the United Nations Development Programme (UNDP) has launched “Early recovery and restoration of flood-affected communities in Pakistan” project with an estimated cost of Rs256 million that is aimed at establishment and operation of Business Support Centres in 29 districts severely affected by the floods, the sources said. The aim is to provide communities support for economic development through extending small grants. “The SMEs are considered an important tool for poverty alleviation, human resource development, accelerating economic growth and employment generation,” the sources said. SMEs contribute over 30 percent to GDP, 25 percent to manufacturing export earnings, 35 percent to manufacturing value addition and We recommend you visit the following site for more complete information and related topics. Article source: http://www.thenews.com.pk/Todays-News-3-125249-Govt-assisting-SMEs-infrastructural-development-to-reduce-poverty