May 7, 2002	Tuesday	Safar 23, 1423

ISLAMABAD, May 6: SME Institute of Finance, Washington D.C., has chalked out a comprehensive development programme for Pakistan’s SME sector and also considering setting up SME risk capital fund.

This was disclosed by executive director, SME Institute of Finance, Washington D.C., David Lingelbach, during his recent visit to Pakistan and his meeting with FPCCI chairman Sohail Altaf.

“The prime objective of his current visit was to create awareness as well as to get input from the private sector to prepare a feasibility study to set up a SME-risk fund in Pakistan,” he told the FPCCI chairman.

According to FPCCI, David Lingelbach was accompanied by Majid Munir, manager finance services Group-Smeda and Credit.

Mr.David said SMEs were the centre of economy and he had been assigned the task by Pakistan’s market with a view to long-term financing for this important sector.

He also wanted to assess the acceptability of Pakistan’s businessmen to foreign investors. He said Asian Development Bank planned to make an aggressive move for SMEs in this country.

Sohail Altaf said SME sector had certainly played a dynamic role in the economic development of both the developed and developing countries and has acquired increased importance by offering innumerable benefits to their economics.

He termed the decision to set up a SME risk capital fund in Pakistan, a major step as well as good opportunity towards promoting the SME sector in the country.—APP