SMEDA establishes 1000 industrial stitching units under PSDP
Lahore: The Small and Medium Enterprises Development Authority (SMEDA) and the Ministry of Commerce and Textile (MoCT) have inked an agreement for establishment of 150 industrial stitching units during next three years as first phase of a PSDP project, under which a sum of 1000 stitching units are to be completed in different phases. Mr. Masood ul Hassan Qureshi, Senior Joint Secretary (Textile Division), MoCT and Mr. Javed Khattak, General Manager (Outreach), SMEDA signed the documents of this agreement on behalf of their respective organizations.
According to the agreement SMEDA has been declared the executing agency for “Phase-1 of the project. Whereas, Textile Division of the Ministry of Commerce and Textile is the sponsoring ministry for complete project.
SMEDA shall implement the aforesaid project as per its own policy and procedures and according to the approved PC-1. Furthermore, SMEDA will design an Operation Manual for the said project and place the project staff including SMEDA officials engaged with the project throughout Pakistan at provincial and regional offices to monitor and supervise the implementation process.
The parties shall setup the project Steering and Scrutinizing Committees to look after the overall policy formulation, implementation and outcomes as set in the PC-1 and to scrutinize the eligibility of each applicant before subsidizing the stitching center respectively.
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