PESHAWAR, July 13: The Small and Medium Enterprises Development Authority (Smeda) will set up a full-time cell in the Fata Development Authority (FDA) office to facilitate tribal entrepreneurs to invest in small and medium businesses.

In this connection a memorandum of understanding (MoU) was signed between FDA chief executive Mohammad Shahzad Arbab and Smeda chief executive officer Shahid Rasheed on Friday.

According to the MoU, Smeda would establish a full-time cell in the central offices of FDA for Fata entrepreneurs initiating its existence in tribal areas which would prove to be a milestone and an important practical step towards development of small and medium businesses in the area.

The cell will approach small and medium businessmen so as to extend them its services in disseminating information, business consultation, creating mutual business and marketing contacts.

The cell will provide opportunities of meetings with experts for the promotion of business besides consolidating the organisational structure of FDA’s SME programme.

The cell will also provide legal services to small and medium entrepreneurs in the registration of their businesses, regulatory system and other problems facing the businessmen.

The initiation of services of Smeda in Fata is part of the integrated efforts of the government under which better opportunities could be provided for the promotion of business in the tribal areas to bring tribesmen’s economic condition at par with the rest of the country.

Mohammad Shahzad Arbab said that the FDA with the cooperation of

Smeda was working on a scheme under which commercial banks would provide loans to small and medium entrepreneurs in tribal areas.

“All is set in this connection and the scheme would be launched shortly,” he said.—APP