Smeda to set up CFC for making textile machinery

STAFF REPORT FSD: Small and Medium Enterprise Development Authority (SMEDA) is contemplating to set up a Common Facility Centre (CFC) with estimated cost of Rs 100 million for the manufacturing of textile machinery and agriculture implements and has asked FCCI to collaborate for the early establishment of this centre.

“SMEs are base line for the industrial development and for the establishment of major and big industrial units,” said Alamgir Chaudhry, CEO, SMEDA, while speaking to the Executive Committee members of Faisalabad Chamber of Commerce and Industry (FCCI).He said that SMEDA is helping SMEs to invest and start their own businesses in 18 different sectors including textile machinery manufacturing, agricultural implements and foundry etc.

He also said that the government was fully aware of the importance of the SMEs and was extending full support for the development of this important segment.

He particularly appreciated the Prime Minister Youth Loan Scheme and said that the youth has potential to drag out Pakistan from the economic quagmire.President FCCI Engineer Suhail Bin Rashid appreciated the efforts of SMEDA for SMEs development and said that the innovation could be introduced in our industrial and manufacturing sector through SMEs. Riaz Ul Haq, SVP, FCCI, Muzammal Sultan, former President FCCI, Zeeshan Noorani, Tayyeb Raza and others shared their views on the occasion.

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