LAHORE, Nov 10: The Business Support Fund has signed a memorandum of understanding with the Karachi Tools, Dies and Moulds Centre for potential grant support to small and medium enterprises.

The BSF will provide grants of up to Rs18,00,000 to eligible SMEs for getting various types of trainings.

The KTDMC’s objectives are to provide local TDM and related industry with state-of-the-art design, training, consultancy and manufacturing facilities. This is particularly important for small and medium businesses, which cannot otherwise make large investments to set up such facilities for themselves. The major aim of this facility is to enable local industry to produce TDM-based finished products of international quality.

Working under the ministry of finance, SME Business Support Fund was established in 2005 to provide financial assistance to SMEs for getting various types of business services. The fund has so far committed support to over 500 SMEs from all over Pakistan for projects worth Rs220 million.

Funds have been given for certifications, trainings, website designing, software implementation, machinery installation, marketing, export development and product development.