Senior Federal Minister Industries and Defence Production Chaudhry Pervaiz Elahi on Monday reviewed the operational mechanism of the PSDP projects being undertaken by Small and Medium Enterprises Development Authority (Smeda). The minister presided over a meeting that was also attended by Federal Secretary Industries Aziz Ahmad Bilour, Additional Secretary Agha Nadeem and Joint Secretary Shaista Sohail.
The minister expressed satisfaction over transparent and smooth execution by SMEDA for the projects funded through Public Sector Development Programme. He said the Government of Pakistan was aware of the significance of SMEs for economic prosperity of the nation and assured of the fullest co-operation in overcoming the difficulties to be faced by SMEDA in serving its basic mandate of SME development as well as successful execution of the PSDP projects.
Responding to a question regarding operational mechanism and management structure of the PSDP projects, the minister was briefed that the PSDP projects to be executed by SMEDA were being run under Private-Public Partnership. The procurements of these projects were strictly made in compliance with Public Procurement Regulatory Authority (PPRA) rules and regulations.
Earlier, Smeda Chief Executive Officer Yousaf Naseem Khokhar apprised the senior minister that Smeda had obtained approval for 28 PSDP projects, out of which 11 had become operational while 13 were passing through various stages of execution while 4 were in limbo as funds were not provided. He said that Smeda was facing hardship in serving its original mandate of 'SME Development' because of recent budgetary cuts. He requested for Ministry of Industries' intervention to overcome the budgetary constraints.