SIALKOT, Jan 31: The World Bank will recommend International Finance Corporation (IFC) to design a comprehensive programme, in collaboration with Pakistan government, Smeda and SCCI, to develop and boost the Sialkot-based small and medium enterprises (SMEs).

This was stated by the World Bank Mission led by John Williamson while addressing a meeting of Sialkot business community at Sialkot Chamber of Commerce and Industry (SCCI), here on Wednesday, after visiting various industrial units in Sambrial, Daska and Sialkot.

World Bank Mission’s head Mr. John Williamson said that we are preparing a Development Policy Review (DPR) documents to assess Pakistani’s current development policy agenda. He said that we are focusing on Sialkot-based SMEs.

He said, due to various reasons, these industries could not get due attention of the financial institutions. Therefore, the over all investment activity in the small scale sector continued to be marked by a slow pace.

He said that Sialkot would be selected for launching the SMEs development programme, as it was one of the most important centres of SMEs in Pakistan with International Finance Corporation.

The World Bank representatives also sought effective and positive suggestions from SCCI for making IFC programme successful. They also assured SCCI about the early provision of every technical and financial facility to the Sialkot-based SMEs, besides introducing IFC’s.

Earlier, SVP, Sialkot Chamber of Commerce and Industry (SCCI) Navid Iqbal Shaikh said that WB’s role in providing credit facilities to different projects in Pakistan is exemplary. He said that Sialkot is recognized globally as the city of best quality exports. Sialkot has ever been playing significant role in strengthening the economy of Pakistan, by earning foreign exchange to the tune of $650 million, annually.