HYDERABAD: SAFWCO disbursed grant of Rs.3.5 crore to promote small and medium scale enterprises related to agriculture and livestock in rural areas, with the support of European Union, ICT, and PPAF.
In a ceremony presided over by Prof. Dr. Muhammad Ismail Kunbhar at HID Hall SAFWCO here, three companies were given Rs. one crore each, including 'Rishad Mateen' for setting up cold storage for bananas, KTC to set up 'Mango Pulp Unit' and 'Perfect Foods' to set up a dehydration plant to dry fruits and vegetables.
Meanwhile, grant cheques of Rs. 5 lakhs were distributed to seven small traders for producing milk, butter, banana chips, and mango pickle according to export standards.
On this occasion, SAFWCO founder Suleman G. Abro, the chief guest, while addressing the check recipients, said that by using this aid properly, supporting the agricultural business will not only increase your business but also create employment opportunities for other people and such initiatives will help in reducing poverty and unemployment, the business centers themselves will contact you on your success.
He said that by producing milk, butter, ghee, vegetables, fruits and other agricultural products in a standard way, good money can be earned and foreign trade will also increase, which will increase foreign exchange and improve the country's economy.
Speaking at the event, Syed Sajjad Ali Shah, Managing Director of Safco Microfinance Company, congratulated the recipients of the aid checks and informed them that Safco Microfinance Company is also providing loans to people on easy terms for business development. Apart from this, it also provides business training. If you guys need more funds, we will also support you fully.
Speaking at the event, Prof. Dr. Muhammad Ismail Kunbhar said that SAFWCO's motto has been to increase self-employment by promoting rural industrial development, to make them financially independent by cooperating with small businesses and business groups. Go for this purpose measures such as providing assistance and training, conducting observation visits and initiating livelihood improvement projects are undertaken.
For this, the efforts of SAFWCO founder Suleman G. Abro and his teams are commendable. It is hoped that those who have received financial assistance under the second phase of this (GRAPS) project will use it properly, which will increase their business and also reduce the 40% loss of Sindh due to environmental degradation. Will come on this occasion, businessmen shared their experiences and offered their support to small and medium businesses.
Copyright Business Recorder, 2023