PESHAWAR: Small and Medium Enterprise Development Authority (SMEDA) distributed 80 grants’ cheques worth Rs44 million under Multi-Donors Trust Fund-funded Economic Revitalization of Khyber Pakhtunkhwa and FATA (ERKF) project.
The ceremony was held under the auspices of Khyber Pakhtunkhwa Chamber of Commerce & Industry (KPCCI). Senior Minister Khyber Pakhtunkhwa, Sikandar Hayat Sherpao was the chief guest on the occasion. Besides, Special Assistant to KP CM on Industries & Trade Abdul Karim Khan, KPCCI president Zulfikar Ali, provincial chief Smeda, KP Javed Iqbal Khattak, officials of the industries department and a large number of local traders, particularly SME traders affected by insurgency, attended the ceremony.
The US$ 14 million project was launched under the auspices of the World Bank through SMEDA for the rehabilitation of the insurgency and flood affected SMEs of Khyber Pakhtunkhwa and FATA. The project was framed for a total of 850 SMEs however with the better financial management and monitoring the number of the beneficiaries had reached to 1300.
The time duration of the project was from June 2012 to June 2015, but the traditional bureaucratic hurdles delayed the disbursement of grants. Later, the matter was handed over to NAB, which certified it as corruption free project.
During the ceremony, some known businessmen criticized the bureaucratic red-tapism and unnecessary hurdles, demanding action against the concerned officials of the Industries Department of the provincial government.
Addressing the ceremony, Senior Minister Khyber Pakhtunkhwa Sikandar Hayat Sherpao appreciated the performance and role of SMEDA Khyber Pakhtunkhwa in the implementation of the project and promotion of business activities in the province. He said that the business community of KP and FATA is carrying their duties in very unsuitable situation. He said that KP has potential to make industrial progress. But, peculiar situation and insurgency are inflicting loss to it.
