KARACHI, Jan 22: Speakers at a workshop organized by Small & Medium Enterprise Development Authority (Smeda) recommended ‘SME risk capital fund’ for rapid growth of small and medium enterprises.

The workshop was addressed by Rainer Hartel, representative of the Asian Development Bank, Anjum Ahmad, the GM for Donors & International Linkages Department and Shamoon Chaudhry, GM Financial Services Group of Smeda.

Shamoon Chaudhry said that Asian Development Bank, in collaboration with Smeda had conducted a feasibility study to set up SME Risk Capital Fund in Pakistan. Renowned ADB consultant David Linglebach visited Pakistan last year to hold meetings with stakeholders of the SME sector, he added.

Chaudhry presented major features of the study to receive feedback of the potential stakeholders of such a fund. The workshop participants lauded the move to set up the fund, and expressed the hope that it will open a new era for development of SMEs.

Earlier, Anjum Ahmad, GM Donors & International Linkages Group of Smeda apprised the participants about the services being rendered by the Authority for promotion of SMEs, which include management development, technological upgradation and modern marketing techniques, he said.

Rainer Hartel urged a radical SME development programme in Pakistan, and said that ADB was taking deep interest in designing a viable plan, with a number of ADB consultants coordinating with Smeda to conduct studies in this regard, he added.—APP