LAHORE, Nov 7: The Business Support Fund (BSF) has committed Rs280 million to 750 small and medium enterprises (SMEs) in the country, BSF Chief Executive Officer Badr Hashemi said at a meeting with Trade Development Authority of Pakistan (TDAP) Vice Chairman Naveed Arif here on Friday.

The funds were provided to SMEs for certifications, trainings, website designing, software implementation, machinery installation, marketing, export development and product development.

The BSF was established in 2005 by the Finance Ministry with the assistance of the Asian Development Bank to subsidise the provision of business development services to SMEs and create market opportunities for them and their consultants. It extended financial assistance of up to Rs1.8 million to each SME and exporters were provided 50 per cent financial assistance for getting consultancy services, designing of websites, exhibition stalls and promotional materials for trade fair participation. Eligible SMEs were also helped in research studies for new markets and engaging consultants to market their products abroad.

TDAP Vice-Chairman Arif discussed the possible areas of collaboration to support SME exporters from various sectors with Mr Hashemi. He said the BSF and the TDAP were working on a lot of similar activities for exporters, such as technical trainings, market intelligence, export market development and diversification and product quality improvement. Both the TDAP and the BSF were striving to help exporters enhance their product quality and could help their SME members get product and organizational certifications.