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BSF aid to raise competitiveness of local SMEs
01
Feb '08
In a bid to help Small and Medium Enterprises (SMEs) purchase business development services, the Business Support Fund (BSF) will cater a grant of Rs1.8 million.

At a seminar titled 'Business Support Fund' held at the Institute of Chartered Accountants of Pakistan (ICAP), David Monkman, Chief Executive of BSF, informed the participants and members about the growing opportunities in the sphere of research, development, technology transfer and upgradation.

BSF has been recognized as an agency that lends support and assistance for increasing the lucrativeness and competitiveness of tax paying SMEs that employs less than 250 staff and promises a turnover of about Rs250 million.

However, conditions laid forward by the BSF entails that the recipient SMEs should have been in operation for at least 3 years. With all the terms settled, industrial sources confirm that the Government of Pakistan is working out a strategy to accelerate the development of SMEs.

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