Stat Bank has Announced "Refinance and Credit Guarantee Scheme for Women Entrepreneurs in Underserved Areas"

State bank of Pakistan (SBP) has announced new loan scheme namely “Refinance and Credit Guarantee Scheme for Women Entrepreneurs in Underserved Areas”. The maximum loan amount is Rs. 1.5 million. SBP has also formulated a committee for implementation and monitoring of the scheme.  SMEDA-KP is the member of this committee. The main responsibility of SMEDA-KP member is development of marketing plan, networking & advocacy, identification of SMEs clusters/individuals.

In this regard, SMEDA-KP and SBP organized a one-day awareness session at Shaheed Benazir Bhutto University, Peshawar (SBBU), the session was attended by large number of students & faculty members. The session was chaired by SBP deputy chief manager  Mr. Kamran Khan while Ms. Nabila farman (SMEDA), Rashid Aman (SMEDA), Ms. Nuzhat Rauf (WCCIP) and regional head NBP were the key note speakers in the session.

The salient features of the scheme are as follow:

  • This facility is for women entrepreneurs in underserved areas of the country for setting up of new businesses or expansion of existing ones
  • SBP will provide refinance to banks at 0%.
  • Maximum financing amount is Rs 1.5 million.
  • Maximum financing period is 5 years with grace period of up to 6 months.
  • End user rate is 5% which is locked in for financing period.
  • 60% risk coverage is available against outstanding principal.

National Business Development Program to be launched by SMEDA this Year

Mr. Sher Ayub Khan, Chief Executive Officer of the Small and Medium Enterprises Development Authority (SMEDA) has envisaged that National Business Development Program to be launched by SMEDA this year would mobilize an investment worth Rs. 8 billion. While addressing a meeting at SMEDA Head Office today, he informed that the program would facilitate over 3.14 million SMEs over a period of five years.

CEO SMEDA further told that as many as 3,800 training programs would be organized under the program to be supported with 761 over-the –counter documents on feasibility reports, regulatory procedures, HR and technology. The program would also arrange 913 business startup grants and 500 international certifications besides compiling 23 market research papers. A concrete plan bearing support services needed by the SMEs has been chalked out, he said adding that the plan include management development support, service acquisition support and favorable policy support, which were being demanded by the local SMEs since long time.

CEO SMEDA pointed out that another important demand regarding access to finance had also be addressed under the program, as the program would be providing credit worthiness assessment support to over 9, 500 SMEs to facilitate them having credits from the formal sources.

Mr. Khan hoped that the program would enable local SMEs to make quantum leap in technology up-gradation, Capacity Development and Marketing linkages within and out of the country.  In view of the access to valuable information on world trade and internationalization of the SMEs to be done under the program, he expressed confidence that the SMEs would be able to increase Pakistan’s share in the export markets to an optimal level by making an overall economic value addition of about Rs.3.5 billion.

The program will cost Rs.1.955 billion, out of which an amount of Rs.250 million has been allocated from the PSDP budget of 1917-18, CEO SMEDA added.

SMEDA for Boosting Sports Industry

SMEDA will set up Product Development Centre (PDC) for Composite for tracking the local sports goods industry on modern production lines.

The proposed PDC project costing Rs498 million would be established within the premises of Sports Industry Development Centre (SIDC), said official sources here on Sunday. The step was being taken to enable the sports goods industry to adopt new manufacturing technologies including composite material and enter into the largest segment of sports goods exports which are presently 55% of the sports goods are based on composite materials, sources said.

The basic concept of setting up this proposed PDC was to provide services like product testing (physical and chemical), provide skilled workforce to the sector, enhance productivity by providing technical support services to new and existing industrial units, help develop imported machinery locally through reverse engineering and facilitate in increasing exports of composite based sports goods.

The proposed PDC will prepare the local industry to aggressively enter the international market of composite based sports items.

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