Shaoor Foundation launches capacity development program for SMEs

07:34 PM | 21 Dec, 2018
Shaoor Foundation launches capacity development program for SMEs
ISLAMABAD - Shaoor Foundation for Education and Awareness (SFEA) has launched a Capacity Enhancement Leadership and Linkages Development Program (CELL) for marginalized Micro SMEs of 13 districts of Pakistan.

The program, which is funded by US Embassy Islamabad, was launched through stakeholders meeting held in federal capital here the other day.

CELL for SMEs is a two-year long project focusing on developing and enhancing the capacities of SMEs, create their innovative linkages and partnership for the improved sustainable economic environment in Pakistan, says a press release issued by the SFEA.

The importance of the SME sector cannot be overemphasized. SMEs constitute nearly 90% of all the enterprises in Pakistan; employ 80% of the non-agricultural labor force; and their share in the annual GDP is 40%, approximately.

However, unlike large enterprises in the formal sector, a small and medium enterprise is constrained by financial and other resources. SFEA strongly believe that the SME sector is the backbone of any economy.

In Pakistan, where more than 60% of the population is rural-based it is very important to enhance the capacities of rural centric SMEs to help them scale and contribute to the overall economic growth.

Ammara Kazi, the Program Manager emphasized the linkages development of marginalized SMEs with the Industry and academia to enhance their potential to help them contribute to the economic development of the country.

Director Programs – Taimur Rehman briefed about SFEA’s contributions in the entrepreneurial ecosystem especially from the rural centric.

Cultural Affairs Attaché, US Embassy Islamabad – Yoon Naam Appreciated Shaoor’s efforts of enhancing entrepreneurial capacities and linkages development in rural centric.

Executive Director SFEA, Syed Ali Hameed stressed strengthening each other’s efforts made in the same direction to achieve better goals.

The representatives from SMEDA, SECP, Chamber of Commerce and Industry, Ministry of Planning and Reforms, Micro Finance Banks, Akhuwat Foundation, journalists and officials from the US Embassy attended the moot.