Punjab signs MoU with KOSGEB, a Turkish company to start entrepreneur support programme

Lahore: Punjab Small Industries Corporation with the collaboration of Turkish Small, Medium Enterprises Agency KOSGEB will start a number of projects i.e. entrepreneur support programme, cooperation beginning programme, credit guarantee funds, loan interest support programme general support programme and bilateral cooperation.

This was stated by the Provincial Minister for Industries Ch. Muhammad Shafiq during the MoU signing ceremony at Punjab Small Industrial Directorate with KOSGEB, a Turkish company. Secretary Industries Nabeel Javed, Managing Director PSIC Bilal Ahmed Butt, Director PSIC Sabih were also present at this occasion.

Ch. Muhammad Shafiq has said that Pakistan and Turkey have strong economic relations which played a pivotal role in development of both the countries. He said that PSIC is also working on cluster development programme to explore and reinforce the competitive initiatives through cluster managers. He said that seven cluster development centers Lahore, Sialkot, Faisalabad, Daska, Chiniot, Sargodha and Multan and two business at centers Faisalabad and Gujranwala have been established and PISIC is working on the operationalization and effective utilization of these centers.

The Minister said that PSIC intends to learn from the KOSGEB’s cooperation to replicate the programme for cluster based development in Punjab, cluster based lending for artisan is already under process by PSIC and learn from the KOSGEB experience in the development of credit guarantee and loan interest support programme.

He said that in general support programme PISC intends to replicate programme for potential and export oriented SMEs in coordination with Punjab Board of Investment and Trade so joint industry working group will be helpful to explore further areas of bilateral cooperation.