Smeda resumes matching grant process for industrial sewing units

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LAHORE – The Small and Medium Enterprises Development Authority (SMEDA) has resumed the matching grant process for the establishment of industrial sewing units across the country. Hashim Raza, Managing Director of SMEDA, informed that the grant is part of a PSDP-funded project implemented by SMEDA under the aegis of the Federal Ministry of Industries and Production for the creation of a total of 1000 industrial units, for which the subsidy has already been granted to 93 SMEs. The project, he said, aims to provide financial assistance to stimulate value addition in the field of textile apparel manufacturing through matching grants to new start-up companies as well as small and medium-sized enterprises ( SMEs) with adequate experience in textile-related manufacturing. The CEO of SMEDA observed that the textile sector plays an important role in the development of the national economy and that the improvement of the added value, productivity and innovation could guide this sector towards the increase of exports. and job creation. The financial assistance that will be provided through this grant will help the industrial sewing units to further share their contribution to the growth of the economy, he added. The project aims to establish 1,000 long-term industrial sewing units and is going through the first phase of its three-year operation, during which 93 units out of a target of 150 have so far been successfully completed. The current grant process aims to support 57 units, after which the first phase of this project would be completed. It should be noted that the said subsidy is paid in the form of machines whose number varies between 7 and 18 according to the requirements of the candidates. The project provides a grant facility on a cost-sharing basis, under which 40% of the cost of the machines is borne by the applicant and 60% is provided by the project. Grant application forms are available on the SMEDA website and interested SMEs should submit their applications to SMEDA offices in their regions by November 4, 2022.

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