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NewswireTODAY - /newswire/ -
Lahore, Punjab, Pakistan, 2008/08/23 - TUSDEC (Technology Upgradation and Skill Development Company) and ADB-funded SME Business Support Fund have signed a Memorandum of Understanding for the uplift of SMEs in Pakistan.
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TUSDEC (Technology Upgradation and Skill Development Company) and Asian Development Bank funded BSF (SME Business Support Fund) have signed a Memorandum of Understanding (MoU) with an objective to coordinate their efforts and pool resources for increasing competitiveness of small and medium enterprises in the country.
The agreement was signed by Chief Executive Officer TUSDEC, Mr. Suhael Ahmed and CEO BSF, Mr. David Monkman at a simple but impressive ceremony.
Among others present on the occasion were Director Projects, TUSDEC, Col (rtd) Syed Anwar Ali Pervez and senior officials of BSF.
Under the MoU, TUSDEC and BSF would join hands in assisting small businesses through NIDA (National Institute of Design and Analysis) to upgrade their skills and knowledge in product design.
They would also arrange joint seminars/ workshops for disseminating information about NIDA and the BSF Voucher Scheme.
BSF, according to the agreement, would provide financial assistance to SMEs for business development services referred by TUSDEC as per Fund's rules and regulations.
About TUSDEC
TUSDEC (tusdec.org.pk) is a Guarantee Limited Company set up under Section 42 of the Companies Ordinance, 1984 by the Ministry of Industries and Production, managed on the basis of Public-Private Partnership. TUSDEC’s mission is to upgrade technology and skills of key and strategic industrial clusters and connect Pakistan to the global value chain.
About BSF
SME Business Support Fund (BSF) is a not-for-profit company set up under Section 42 of the Companies Ordinance 1984 by the Ministry of Finance (MoF) with the support of Asian Development Bank (ADB). BSF being an integral part of the SME Sector Development Programme (SME SDP) initiated by MoF is a financial support scheme established for small and medium sized companies to enhance their competitiveness and profitability, through the increased used of business development services.
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Agency / Source: Technology Upgradation & Skill Dev., Co.
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Contact: Muhammad Luqman, Manager Media & PR
+92 42 111000143  luqman.muhammad[.]tusdec.org.pk
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