BSF launched to promote SMEs

The Ministry of Finance has launched Business Support Fund (BSF) to promote small and medium entrepreneurs on modern and scientific lines, said David Monk Man, chief executive officer, BSF.
Addressing a seminar in Faisalabad Chamber of Commerce and Industry (FCI) here on Tuesday, he said that SME was playing a vital role in national economy and government had decided to improve this sector on top priority basis. In this connection, Rs 400 million have been allocated in collaboration with Asian Development Bank to upgrade Small and Medium Enterprises (SME).
He said that small enterprises with three years business tenure and having less than 250 workers and annual turnover up to Rs 300 million could get financial assistance up to Rs 1.8 million for labour training, up gradation of machinery and improvement of services.