The European Union has decided to start a project to promote small and medium-sized businesses in Sindh and Balochistan, by investing $54 million dollars.
The International Trade Centre Pakistan (ITCP) will start a five-year program for poverty alleviation with funding from the European Union.
The project will be monitored at three levels including the government of Pakistan and will be completed in 2024.
Small scale agrarian business will be promoted in Sindh and Balochistan under Growth for Rural Advancement and Sustainable program, stated the report. Small and medium scale businesses in the agriculture sector in Sindh and Balochistan face several challenges.
Lack of technology and skilled manpower creates difficulties in processing agriculture goods. Production, services, access to market and information on agriculture needs are sorely needed.
This will create new employment opportunities and women will be included in the development of the country. The income of small scale farmers will increase and growers of selected areas of Sindh and Balochistan will be provided training in modern technology.
The adviser to Prime Minister on Commerce Abdul Razaq Dawood said that the project will play a pivotal role in the economic progress of the country.