Islamabad: The European Union (EU) has launched a new project to facilitate the growth of small and medium enterprises (SMEs) in Sindh and Balochistan, a news source reported. For this purpose, the EU will provide funds worth USD 54 million.
Through the provision of these funds, the International Trade Centre Pakistan (ITCP) will launch a five-year initiative for poverty alleviation in both the provinces, in collaboration with EU’s Growth for Rural Advancement and Sustainable Progress (GRASP) programme.
Advisor to the Prime Minister on Commerce Abdul Razaq Dawood said the project would further contribute to the growth of the national economy.
According to the officials concerned, SMEs in Sindh and Balochistan face many setbacks owing to lack of technology and absence of skilled workforce.
With this project’s success new employment opportunities will be created. The annual income of small scale farmers will grow and they will be taught modern agricultural techniques and farming methods. This SMEs project will also benefit women, so they can contribute to the country’s overall success.