The Sindh Enterprise Development Fund (SEDF) has approved seven important projects that would be assisted through provision of subsidy on its finances.“It is only the Sindh government that has introduced subsidy on the finances of projects that include processing plants for agriculture products, fisheries and livestock including poultry,” said Sindh Board of Investment Chairman Muhammad Zubair Motiwala.
“It is a unique and bold initiative of the Sindh government that would go a long way in introducing value-addition technologies in the rural economy and enhancing the income of farmers and job opportunities in the rural areas,” he added.
These projects were approved by the SEDF Board that met under the chairmanship of Motiwala at his office said on Tuesday. The livestock and dairy processing are offered financial subsidy through the SEDF whereby the KIBOR part of interest is paid 100 percent through this fund, making the financing almost interest-free for 3 to 5 years.
The seven different projects approved for subsidised financing which include: Tomato Paste and Fruit Pulping Plant, Gadap Town; Al-Saeedi Cold Storage, Ghotki; Reliance International Commodities Exports (rice), Larkana; MFY Poultry Farm, Gadap Town; ECH Poultry Farm Hyderabad; ECH Poultry Farm Tando Allahyar and dairy farm extension by Dairy Land Dhabeji.
In addition, the board also approved five dates processing plants in Khairpur and Sukkur.
Earlier, the SEDF secretary informed the meeting about the recommendations made by the appraisal committee on the projects. It was also decided that the SEDF will provide KIBOR subsidy for the three years initially which may be extended for two more years.
The meeting was attended by Sindh Board of Investment Secretary Mohammad Younus Dagha, Shahida Qaiser of TDAP and Abbas Akber Ali and Usman Ghani Khatri members from the private sector.
