SCCI welcomes EDF for terrorism and natural calamities-hit SMEs of KP

PESHAWAR
Sarhad Chamber of Commerce and Industry president Fuad Ishaq welcomed Enterprise Development Fund (EDF) for terrorism and natural calamities-affected small and medium enterprises (SMEs) of Khyber Pakhtunkhwa.
The SCCI chief urged International Organisation Migration (IOM) to ensure direct release of grant to SMEs under simple procedure, especially provision of maximum share for women in this grant for their economic prosperity and progress.
Fuad Ishaq made these remarks during a meeting with EDF Outreach team from IOM Manager headed by Manager Livelihood Ozz Azzi held here at chamber house on Friday.
Other members of the visiting team include National Program Manager Ahsan Zia, Team Lead Majida Sultana and Program Assistant Syed Awais.
On the occasion, the SCCI Secretary General Muqtasid Ahsan and Secretary Sohail Anjum were present.
Ozz Azzi briefed the meeting about EDF and informed that grant up to Rs5million will be given to more than 120 SMEs of Khyber Pakhtunkhwa.
Officials said funds will be available for companies and business community affected by war or natural disasters in various trades, aimed at reviving and promoting these businesses.
Apart from restoration of businesses, they said financial assistance would be provided for provision of basic necessities, improvement in basic infrastructure, and social economic uplift of war or calamity-hit areas.
Ozz Azzi requested SCCI to cooperate in the provision of grant to registered SMEs.
Fuad Ishaq on the occasion assured the chamber will arrange an awareness session to benefit maximum SMEs and members for this initiative.
SCCI chief while talking about Industrial Development Bank of Pakistan, said the IDBP has played a significant role in the establishment of new industries and job creation.
He called for reactivation of DFIs.
Fuad Ishaq informed incumbent provincial government of Khyber Pakhtunkhwa announced Rs10billion interest-free loan scheme for youth in the fiscal budget, which is a welcome step.
The SCCI chief said KP was the worst affected province for terrorism and natural disasters. He stressed the need to enhance the ratio of EDF for the province and also called for a simplifying procedure for disbursement of this grant to SMEs to take maximum people from this initiative.
On the occasion, Fuad Ishaq assured an EDF help desk will be set up at the chamber house.