SME Business Support Fund (BSF) and Lasbella Industrial Estate Development Authority (LIEDA) on Wednesday signed a memorandum of understanding (MoU) under which the former would help identify small and medium enterprises in the Balochistan province.
SME BSF Chief Executive Officer David Mokman and LIEDA Managing Director Usman Ali signed the MoU on behalf of their respective organisations at Hub. A large number of representatives from marble and stone industry were also present on the occasion.
Briefing the participants, David Mokman said that BSF could manage engagement of foreign consultants for the entrepreneurs running small and medium enterprises in Balochistan where marble processing and stone cutting had tremendous prospectus.
The BSF could also support the SMEs in provision of technical training to the manpower, he said, adding the current techniques of using blast for mining destroyed about 70 percent of the marble and an entrepreneur could enhance his profit if such losses were averted.
He also said the use of modern and latest wire cutting technique in marble and stone industry could help overcome wastage, which would help avert losses and enhance profit ratio.
He urged the stakeholders to get benefit from the BSF, which provided financial assistance up to Rs 1.8 million for hiring services of consultant, preparation of feasibility and provision of technical training.