Federal Secretary of Industries and Production, Javed Ashraf Hussain, said yesterday (7 October) that Pakistan was negotiating a US$12 million loan agreement with the Asian Development Bank (ADB) for establishment of the Common Facility Centres for small- and medium-sized enterprises (SMEs) in the country.
Addressing a meeting of stakeholders of the SME sector at SMEDA office here, he said that the government was committed to utilise this loan for the best interest of SME sector.
He observed that the SME sector had a lot of industrial units spread over the country, which are unable to opt for modern technologies required to compete with the world market. The idea of setting up the Common Facility Centres has been, in fact, developed to overcome this deficiency of the SME sector, the secretary said.
