Monday, May 12, 2008, Jamadi-ul-Awwal 5, 1429    

NIP, BSF sing MoU for SMEs

Lahore—The National Industrial Parks Development & Management Company (NIP) and the SME Business Support Fund (BSF) have signed a memorandum of understanding to strengthen the small and medium enterprises located in industrial parks. According to the MoU, the NIP will recommend SMEs to the BSF for scrutiny and potential grant support. The BSF will provide 50 per cent financial assistance up to Rs1.8 million to qualifying SMEs for upgradation of their manufacturing capabilities.
The MoU was signed by NIP Regional Director Mohsin Syed and BSF CEO David Monkman at a ceremony held at NIP office here. Mohsin Syed said the NIP would launch an Auto Cluster Industrial Park project during the next few weeks. The cluster is to be constructed on Lahore-Sheikhupura Road and 170 acres of land have already been acquired. The auto cluster, the first ever in the country, will be constructed on the model of Sundar Industrial Estate, which was also designed, constructed and supervised by Mohsin Syed as Punjab Industrial Estates chairman.
The NIP regional director said a technical training programme had been designed for matriculates residing in neighbouring areas of the cluster. The training will be provided in collaboration with TEVTA and will be offered in three major disciplines namely automobile, mechanical and construction technology. BSF CEO David Monkman said the auto and engineering sector of Pakistan was very progressive and had grown quickly in recent years. He said various SMEs from the sector had taken BSF support in the past for getting consultancy services for TS 16949 certification, product development and process improvement. —Agencies