The Technology Upgradation and Skill Development Company (Tusdec) and the Asian Development Bank-funded Business Support Fund (BSF) will join hands for the promotion of SME sector in the country. This was decided at a meeting between the BSF Chief Executive Officer, David Monkman and Tusdec Chief Executive Officer, Suhael Ahmed held at the Tusdec head office.
Chief Operating Officer, BSF, Ali Sarfraz and senior management of Tusdec also attended the meeting. The two sides discussed the ways of collaboration with an ultimate objective to promote small and medium enterprises in the country with special focus on BSF's upcoming voucher programme. Monkman said that Pakistan government had set up the fund to improve the competitiveness of SMEs and enhance the revenue generating capacity and profitability of emerging businesses.
He said that to maximise the benefits of Business Support Service to the smaller segment, BSF plans to adopt a voucher system, which can address the market failure and make the supply of Business Development Services (BDS) more efficient.
Monkman said that the new scheme would help transfer skill and technical know-how to businesses expeditiously and at the minimum possible cost as it has been designed keeping in view the requirements of the segment. He said that to make this project mutually advantageous and maximise the benefit to the target market, BSF aims to engage Network Partners, whose core operations can be complimented by the voucher programme.
Briefing the BSF team on this occasion, Suhael Ahmed said both the organisations could help SMEs have interface with new technologies through collaborated efforts. He said that Tusdec has set up Karachi Tools, Dies and Moulds Centre (KTDMC) for the promotion of TDMs manufacturing especially for automotive sector while another TDM Centre is under construction in Gujranwala with a focus on sheet metal and plastics sectors.
Suhael said that CAD/CAM centres were providing training to the youth in product design leading to digital manufacturing with an ultimate objective to manufacture products in line with international market trends. The CEO Tusdec also talked about the future projects including Electronics Complex, Federal Institute of Materials and Homologation and Composite Materials Institute.
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