Lahore, April 01, 2019 (PPI-OT): The Small and Medium Enterprises Development Authority (SMEDA) and the Ministry of Commerce and Textile (MoCT) have inked an agreement for establishment of 150 industrial stitching units during next three years as first phase of a PSDP project, under which a sum of 1000 stitching units are to be completed in different phases. Mr. Masood ul Hassan Qureshi, Senior Joint Secretary (Textile Division), MoCT and Mr. Javed Khattak, General Manager (Outreach), SMEDA signed the documents of this agreement on behalf of their respective organizations.
According to the agreement SMEDA has been declared the executing agency for “Phase-1 of the project”. Whereas, Textile Division of the Ministry of Commerce and Textile is the sponsoring ministry for complete project. SMEDA shall implement the aforesaid project as per its own policy and procedures and according to the approved PC-1. Furthermore, SMEDA will design an Operation Manual for the said project and place the project staff including SMEDA officials engaged with the project throughout Pakistan at provincial and regional offices to monitor and supervise the implementation process.
The parties shall setup the project Steering and Scrutinizing Committees to look after the overall policy formulation, implementation and outcomes as set in the PC-1 and to scrutinize the eligibility of each applicant before subsidizing the stitching center respectively. The agreement is to prolong for next 3 years and will be extendable automatically for another period of same duration.
It is notable that the project has been envisaged to promote public private partnership to boost the value addition in the field of textile garments by establishing industrial stitching units by strengthening small and medium entrepreneurs. In this project 60% funding for the machines will be provided from PSDP through the said project by the Ministry of Commerce and Textile and 40% would be borne by the owner of the stitching units. The Project Management Unit (PMU) will be established at SMEDA Head Office Lahore.
For more information, contact:
DGM (Admin. and PR)
Small and Medium Enterprises Development Authority (SMEDA)
4th Floor, Building No.3, Aiwan-e-Iqbal Complex,
Egerton Road, Lahore, Pakistan
Tel: +92-42-111-111-456
Fax: +92-42-36304926-7
Email: aligohar@smeda.org.pk, helpdesk@smeda.org.pk
Website: www.smeda.org.pk